Navitas Semiconductor Corp (NASDAQ:NVTS) shares, rose in value on Thursday, November 21, with the stock price up by 10.38% to the previous day’s close as strong demand from buyers drove the stock to $2.02.
Actively observing the price movement in the last trading, the stock closed the session at $1.83, falling within a range of $1.81 and $2.045. The value of beta (5-year monthly) was 2.353. Referring to stock’s 52-week performance, its high was $8.44, and the low was $1.75. On the whole, NVTS has fluctuated by -18.88% over the past month.
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With the market capitalization of Navitas Semiconductor Corp currently standing at about $377.33 million, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 84.41M, with a low estimate of 19M and a high estimate of 19.1M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 19.03M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that NVTS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of NVTS currently trading nearly -8.99% and -14.07% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.20, while the 7-day volatility ratio is showing 7.20% which for the 30-day chart, stands at 7.83%. Furthermore, Navitas Semiconductor Corp (NVTS)’s beta value is 2.27, and its average true range (ATR) is 0.17.
A comparison of Navitas Semiconductor Corp (NVTS) with its peers suggests the former has fared considerably weaker in the market. NVTS showed an intraday change of 10.38% in last session, and over the past year, it shrunk by -70.55%%.
Data on historical trading for Navitas Semiconductor Corp (NASDAQ:NVTS) indicates that the trading volumes over the past 10 days have averaged 3.21 and over the past 3 months, they’ve averaged 2.69 million. According to company’s latest data on outstanding shares, there are 179.20 million shares outstanding.
Nearly 38.69% of Navitas Semiconductor Corp’s shares belong to company insiders and institutional investors own 37.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 27.84 million shares as on 2024-10-31, resulting in a short ratio of 13.63. According to the data, the short interest in Navitas Semiconductor Corp (NVTS) stood at 2163.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 30.64 million. The stock has fallen by -74.97% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NVTS stock heading into the next quarter.
