Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) price on Wednesday, November 13, fall -1.23% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.63.
A look at the stock’s price movement, the close in the last trading session was $5.70, moving within a range at $5.615 and $6.34. The beta value (5-Year monthly) was 0.024. Turning to its 52-week performance, $11.56 and $4.68 were the 52-week high and 52-week low respectively. Overall, MRVI moved -32.09% over the past month.
Maravai LifeSciences Holdings Inc’s market cap currently stands at around $1.42 billion, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 56.6M for the company’s revenue for the quarter, with a low and high estimate of 52.65M and 60.02M respectively. The average forecast suggests down to a -23.66% 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 to grow to 260.58M, representing a -9.82% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MRVI is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 6 recommend MRVI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MRVI’s current price about -22.27% and -28.94% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 33.18, while 7-day volatility ratio is 8.87% and 6.47% in the 30-day chart. Further, Maravai LifeSciences Holdings Inc (MRVI) has a beta value of -0.06, and an average true range (ATR) of 0.62. Analysts have given the company’s stock an average 52-week price target of $22, forecast between a low of $10 and high of $25. Looking at the price targets, the low is -77.62% off current price level while to achieve the yearly target high, price needs to move -344.05%. Nonetheless, investors will most likely welcome a -290.76% jump to $22 which is the analysts’ median price.
If we refocus on Maravai LifeSciences Holdings Inc (NASDAQ:MRVI), historical trading data shows that trading volumes averaged 3.07 over the past 10 days and 2.09 million over the past 3 months. The company’s latest data on shares outstanding shows there are 132.23 million shares.
The 17.53% of Maravai LifeSciences Holdings Inc’s shares are in the hands of company insiders while institutional holders own 88.84% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.22 million on 2024-10-31, giving us a short ratio of 6.63. The data shows that as of 2024-10-31 short interest in Maravai LifeSciences Holdings Inc (MRVI) stood at 692.99996 of shares outstanding, with shares short falling to 9.22 million registered in 2024-09-30. Current price change has pushed the stock -14.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MRVI stock continues to rise going into the next quarter.
