MedAvail Holdings Inc (NASDAQ:MDVL) shares, rose in value on Thursday, 05/12/22, with the stock price up by 12.14% to the previous day’s close as strong demand from buyers drove the stock to $2.31.
Actively observing the price movement in the last trading, the stock closed the session at $2.06, falling within a range of $2.02 and $2.34. Referring to stock’s 52-week performance, its high was $14.59, and the low was $0.79. On the whole, MDVL has fluctuated by 33.14% over the past month.
With the market capitalization of MedAvail Holdings Inc currently standing at about $158.26 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2022 – Apr 01, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.36, which is expected to increase to -$0.35 for fiscal year -$1.31 and then to about -$1.42 by fiscal year 2022. Data indicates that the EPS growth is expected to be 72.10% in 2022, while the next year’s EPS growth is forecast to be -8.40%.
Analysts have estimated the company’s revenue for the quarter at $6.38 million, with a low estimate of $6.3 million and a high estimate of $6.46 million. According to the average forecast, sales growth in current quarter could jump down -50.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $21.2 million, representing an increase of 51.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MDVL’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MDVL currently trading nearly 8.01% and 53.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.56, while the 7-day volatility ratio is showing 20.57% which for the 30-day chart, stands at 30.66%. Furthermore, MedAvail Holdings Inc (MDVL)’s beta value is 0.33, and its average true range (ATR) is 0.50.
Data on historical trading for MedAvail Holdings Inc (NASDAQ:MDVL) indicates that the trading volumes over the past 3 months, they’ve averaged 9.93 million. According to company’s latest data on outstanding shares, there are 32.75 million shares outstanding.
Nearly 16.20% of MedAvail Holdings Inc’s shares belong to company insiders and institutional investors own 39.90% of the company’s shares. The stock has risen by 65.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MDVL stock heading into the next quarter.