Unity Software Inc (NYSE:U) shares, rose in value on Thursday, November 21, with the stock price up by 3.84% to the previous day’s close as strong demand from buyers drove the stock to $22.46.
Actively observing the price movement in the last trading, the stock closed the session at $21.63, falling within a range of $21.59 and $22.79. The value of beta (5-year monthly) was 2.291. 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 10.91% over the past month.
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With the market capitalization of Unity Software Inc currently standing at about $9.05 billion, 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 1.79B, with a low estimate of 423.1M and a high estimate of 459M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 433.24M.
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 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of U currently trading nearly 10.78% and 7.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 60.20, while the 7-day volatility ratio is showing 8.70% which for the 30-day chart, stands at 6.03%. Furthermore, Unity Software Inc (U)’s beta value is 2.30, and its average true range (ATR) is 1.29.
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 3.84% in last session, and over the past year, it shrunk by -20.97%%.
Data on historical trading for Unity Software Inc (NYSE:U) indicates that the trading volumes over the past 10 days have averaged 15.36 and over the past 3 months, they’ve averaged 12.37 million. According to company’s latest data on outstanding shares, there are 384.87 million shares outstanding.
Nearly 28.74% of Unity Software Inc’s shares belong to company insiders and institutional investors own 56.93% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 24.4 million shares as on 2024-10-31, resulting in a short ratio of 2.88. According to the data, the short interest in Unity Software Inc (U) stood at 631.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 29.71 million. The stock has fallen by -45.07% 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.
