Navitas Semiconductor Corp (NASDAQ:NVTS) price on Thursday, December 26, rose 3.52% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.12.
A look at the stock’s price movement, the close in the last trading session was $3.98, moving within a range at $3.78 and $4.13. The beta value (5-Year monthly) was 2.353. Turning to its 52-week performance, $8.44 and $1.75 were the 52-week high and 52-week low respectively. Overall, NVTS moved 48.20% over the past month.
Navitas Semiconductor Corp’s market cap currently stands at around $769.60 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 19.03M for the company’s revenue for the quarter, with a low and high estimate of 19M and 19.1M respectively. The average forecast suggests down to a -26.98% 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 84.41M, representing a 6.23% 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 NVTS is a 100% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
2 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 0 analyst(s) rate the stock as a Hold, 2 recommend NVTS 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.
NVTS’s current price about 18.29% and 47.50% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 64.26, while 7-day volatility ratio is 17.00% and 14.84% in the 30-day chart. Further, Navitas Semiconductor Corp (NVTS) has a beta value of 2.31, and an average true range (ATR) of 0.43. Analysts have given the company’s stock an average 52-week price target of $5, forecast between a low of $4 and high of $6.5. Looking at the price targets, the low is 2.91% off current price level while to achieve the yearly target high, price needs to move -57.77%. Nonetheless, investors will most likely welcome a -21.36% jump to $5 which is the analysts’ median price.
If we refocus on Navitas Semiconductor Corp (NASDAQ:NVTS), historical trading data shows that trading volumes averaged 9.53 over the past 10 days and 5.05 million over the past 3 months. The company’s latest data on shares outstanding shows there are 186.79 million shares.
The 38.91% of Navitas Semiconductor Corp’s shares are in the hands of company insiders while institutional holders own 37.12% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 23.48 million on 2024-11-29, giving us a short ratio of 6.12. The data shows that as of 2024-11-29 short interest in Navitas Semiconductor Corp (NVTS) stood at 1825.0 of shares outstanding, with shares short falling to 27.84 million registered in 2024-10-31. Current price change has pushed the stock -48.95% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NVTS stock continues to rise going into the next quarter.
