Inari Medical Inc (NASDAQ:NARI) price on current trading day, fall -0.93% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $51.08.
A look at the stock’s price movement, the close in the last trading session was $51.56, moving within a range at $49.12 and $51.87. The beta value (5-Year monthly) was 0.963. Turning to its 52-week performance, $67.13 and $36.73 were the 52-week high and 52-week low respectively. Overall, NARI moved -4.11% over the past month.
Inari Medical Inc’s market cap currently stands at around $2.96 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 160.67M for the company’s revenue for the quarter, with a low and high estimate of 159.8M and 161.6M respectively. The average forecast suggests up to a 21.63% 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 602.89M, representing a 22.13% jump 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 NARI is a 100% Buy. On the other hand, the stock is on average a 25% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
8 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 2 analyst(s) rate the stock as a Hold, 5 recommend NARI as a Buy and 0 give it an Overweight rating. Meanwhile, 1 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.
NARI’s current price about 0.25% and 8.45% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.94, while 7-day volatility ratio is 4.24% and 3.99% in the 30-day chart. Further, Inari Medical Inc (NARI) has a beta value of 0.97, and an average true range (ATR) of 2.03. Analysts have given the company’s stock an average 52-week price target of $66, forecast between a low of $50 and high of $86. Looking at the price targets, the low is 2.11% off current price level while to achieve the yearly target high, price needs to move -68.36%. Nonetheless, investors will most likely welcome a -29.21% jump to $66 which is the analysts’ median price.
If we refocus on Inari Medical Inc (NASDAQ:NARI), historical trading data shows that trading volumes averaged 0.81 over the past 10 days and 868.06K over the past 3 months. The company’s latest data on shares outstanding shows there are 58.44 million shares.
The 14.22% of Inari Medical Inc’s shares are in the hands of company insiders while institutional holders own 89.44% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.42 million on 2024-11-15, giving us a short ratio of 3.75. The data shows that as of 2024-11-15 short interest in Inari Medical Inc (NARI) stood at 738.0000000000001 of shares outstanding, with shares short falling to 3.98 million registered in 2024-10-15. Current price change has pushed the stock -21.32% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NARI stock continues to rise going into the next quarter.
