Unity Software Inc (NYSE:U) shares, rose in value on Friday, October 11, with the stock price up by 1.29% to the previous day’s close as strong demand from buyers drove the stock to $21.15.
Actively observing the price movement in the recent trading, the stock is buoying the session at $20.88, falling within a range of $20.5692 and $21.33. The value of beta (5-year monthly) is 2.28. Referring to stock’s 52-week performance, its high was $43.54, and the low was $13.90. On the whole, U has fluctuated by 11.85% over the past month.
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With the market capitalization of Unity Software Inc currently standing at about $8.39 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-07.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.76B, with a low estimate of 416.3M and a high estimate of 456M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 429.44M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that U’s technical picture suggests that short-term indicators denote the stock is a Hold 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 price of U currently trading nearly -0.92% and 14.85% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.69, while the 7-day volatility ratio is showing 4.46% which for the 30-day chart, stands at 6.50%. Furthermore, Unity Software Inc (U)’s beta value is 2.28, and its average true range (ATR) is 1.16.
A comparison of Unity Software Inc (U) with its peers suggests the former has fared considerably weaker in the market. U showed an intraday change of 1.29% in today’s session so far, and over the past year, it shrunk by -30.13%%.
Data on historical trading for Unity Software Inc (NYSE:U) indicates that the trading volumes over the past 10 days have averaged 9.96 and over the past 3 months, they’ve averaged 12.79 million. According to company’s latest data on outstanding shares, there are 384.87 million shares outstanding.
Nearly 28.64% of Unity Software Inc’s shares belong to company insiders and institutional investors own 52.16% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 29.71 million shares as on 2024-09-30, resulting in a short ratio of 1.63. According to the data, the short interest in Unity Software Inc (U) stood at 780.00 of shares outstanding as of 2024-09-30; the number of short shares registered in 2024-08-30 reached 27.24 million. The stock has fallen by -48.28% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the U stock heading into the next quarter.
