The trading price of Porch Group Inc (NASDAQ:PRCH) closed higher on current market day and closing at $2.97, 3.85% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $2.77 and $3.01. In examining the 52-week price action we see that the stock hit a 52-week high of $4.78 and a 52-week low of $1.05. Over the past month, the stock has gained 109.15% in value.
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Porch Group Inc, whose market valuation is $300.66 million at the time of this writing, is expected to release its quarterly earnings report in December. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.14 per share this quarter, however they have predicted annual earnings per share of -0.63 for current year and -0.23 for next year.
Analysts have forecast the company to bring in revenue of 110.25M for the current quarter, with the likely lows of 106.94M and highs of 113.63M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 447.75M.
On the technical side, indicators suggest PRCH has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that PRCH’s price is currently 21.80% off the SMA20 and 60.70% off the SMA50. The RSI metric on the 14-day chart is currently showing 60.53, and weekly volatility stands at 13.43%. When measured over the past 30 days, the indicator reaches 16.47%. Porch Group Inc (NASDAQ:PRCH)’s beta value is currently sitting at 2.00, while the Average True Range indicator is currently displaying 0.36. With analysts defining $4-$4 as the low and high price targets, we arrive at a consensus price target of $4 for the trailing 12-month period. The current price is about -34.68% off the estimated low and -34.68% off the forecast high, based on this estimate. Investors will be thrilled if PRCH’s share price rises to $4, which is the median consensus price. At that level, PRCH’s share price would be -34.68% below current price.
To see how Porch Group Inc stock has been performing in comparison to its peers in the industry, here are the numbers: PRCH stock’s performance was 3.85% in the latest trading, and 110.64% in the past year.
An evaluation of the daily trading volume of Porch Group Inc (NASDAQ:PRCH) indicates that the 3-month average is 1.67 million. However, this figure has increased over the past 10 days to an average of 3.71.
Currently, records show that 97.06 million of the company’s shares remain outstanding. The insiders hold 41.34% of outstanding shares, whereas institutions hold 51.60%. The stats also highlight that short interest as of 2024-10-31, stood at 9.24 million shares, resulting in a short ratio of 5.2 at that time. From this, we can conclude that short interest is 1343.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 9.82 million. However, since the stock’s price has seen -3.57% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
