Carvana Co.’s (NYSE:CVNA) Stock Is Down -2.30%, But Is It Capable Of A Rally?

Carvana Co. (NYSE:CVNA) traded at $126.14 at last check on Wednesday, July 24, made a downward move of -2.30% on its previous day’s price.

Looking at the stock we see that its previous close was $129.11 . The company has a trailing 12-month PE ratio of 50.81. In terms of its 52-week price range, CVNA has a high of $147.25 and a low of $25.09. The company’s stock has gained about 5.55% over that past 30 days.

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Carvana Co. has a market cap of $14.75 billion.

Based on estimates by 24 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 14 have rated the Carvana Co. (CVNA) stock as a Hold, while 8 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -3.26% off its SMA20 and 6.75% from its 50-day simple moving average. The RSI (14) is pointing at 50.42 while the volatility over the past week is 6.52% and jumps to 6.69% over the past one month. The beta value is 3.37, while the average true range (ATR) is currently pointing at 7.79. The average price target for the stock over the next 12 months is $102.5, with the estimates having a low of $5 and a high of $470. These price ends are 96.04% and -272.6% off the today’s price level respectively, although investors could be excited at the prospect of a 18.74% if the CVNA share price touches on the median price of $102.5.

Coming back to Carvana Co. (NYSE:CVNA), we note that the average 3-month trading volume was 4.77 million, while that of the preceding 10-day period stands at 4.71 million. Current shares outstanding are 114.24 million.

The insiders hold 14.09% of the company’s shares while institutions hold 92.62%. The data shows that short shares as of 2024-06-28, stood at 21.89 million at a short ratio of 4.56. This represents a 23.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.04000123.040001 short interest in shares outstanding on 2024-06-28. Shares short fall in June from the previous month at 22.72 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 138.26% up in year-to-date price movement.

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