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indie Semiconductor Inc.’s (INDI) Stock Is Harder To Predict Than You Think

indie Semiconductor Inc. (NASDAQ:INDI) price on Thursday, May 26, rose 7.23% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $7.27.

A look at the stock’s price movement, the close in the last trading session was $6.78, moving within a range at $6.665 and $7.44. The beta value (5-Year monthly) was 0.26. Turning to its 52-week performance, $16.33 and $5.07 were the 52-week high and 52-week low respectively. Overall, INDI moved 8.83% over the past month.

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indie Semiconductor Inc.’s market cap currently stands at around $1.07 billion, with investors looking forward to this quarter’s earnings report slated for Nov 10, 2021. Analysts project the company’s earnings per share (EPS) to be -$0.12, which has seen fiscal year 2022 EPS growth forecast to increase to -$0.51 and about -$0.14 for fiscal year 2023. Per the data, EPS growth is expected to be 15.00% for 2022 and 72.50% for the next financial year.

Analysts have a consensus estimate of $21.57 million for the company’s revenue for the quarter, with a low and high estimate of $21.5 million and $21.8 million respectively. The average forecast suggests up to a 165.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $111.16 million, representing a 129.60% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that INDI is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

INDI’s current price about 8.54% and 3.14% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.99, while 7-day volatility ratio is 6.10% and 8.11% in the 30-day chart. Further, indie Semiconductor Inc. (INDI) has a beta value of 0, and an average true range (ATR) of 0.50.

In the market, a comparison of indie Semiconductor Inc. (INDI) and its peers suggest the former has performed considerably stronger. Data shows INDI’s intraday price has changed 7.23% in last session and -28.02% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 1.99% and 1.61% respectively in the last trading.

If we refocus on indie Semiconductor Inc. (NASDAQ:INDI), historical trading data shows that trading volumes averaged 1.73 million over the past 10 days and 1.22 million over the past 3 months. The company’s latest data on shares outstanding shows there are 111.19 million shares.

The 2.50% of indie Semiconductor Inc.’s shares are in the hands of company insiders while institutional holders own 42.20% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.54 million on Apr 28, 2022, giving us a short ratio of 7.66. The data shows that as of Apr 28, 2022 short interest in indie Semiconductor Inc. (INDI) stood at 5.59% of shares outstanding, with shares short rising to 5.25 million registered in Mar 30, 2022. Current price change has pushed the stock -39.37% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the INDI stock continues to rise going into the next quarter.

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