Inari Medical Inc (NASDAQ:NARI) price on current trading day, fall -0.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $79.34.
A look at the stock’s price movement, the level at last check in today’s session was $79.40, moving within a range at $79.3 and $79.47. The beta value (5-Year monthly) was 0.963. Turning to its 52-week performance, $79.69 and $36.73 were the 52-week high and 52-week low respectively. Overall, NARI moved 42.72% over the past month.
Inari Medical Inc’s market cap currently stands at around $4.65 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 160.61M for the company’s revenue for the quarter, with a low and high estimate of 159.8M and 161.5M respectively. The average forecast suggests up to a 21.59% 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 603.04M, representing a 22.16% 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 100% 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 25.95% and 40.75% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 80.50, while 7-day volatility ratio is 0.30% and 4.75% in the 30-day chart. Further, Inari Medical Inc (NARI) has a beta value of 0.96, and an average true range (ATR) of 2.85. 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 36.98% off recent price level in today’s trading while to achieve the yearly target high, it has to move -8.39%. Nonetheless, investors will most likely welcome a 16.81% 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 7.71 over the past 10 days and 2.03 million over the past 3 months. The company’s latest data on shares outstanding shows there are 58.44 million shares.
The 13.74% of Inari Medical Inc’s shares are in the hands of company insiders while institutional holders own 89.38% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.84 million on 2024-12-31, giving us a short ratio of 3.63. The data shows that as of 2024-12-31 short interest in Inari Medical Inc (NARI) stood at 829.0000000000001 of shares outstanding, with shares short rising to 2.92 million registered in 2024-11-29. Current price change has pushed the stock 55.42% 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.
