Navitas Semiconductor Corp (NASDAQ:NVTS) price on Thursday, February 27, fall -8.46% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.38.
A look at the stock’s price movement, the close in the last trading session was $2.60. Turning to its 52-week performance, $7.40 and $1.75 were the 52-week high and 52-week low respectively. Overall, NVTS moved -20.13% over the past month.
Navitas Semiconductor Corp’s market cap currently stands at around $444.57 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 14.01M for the company’s revenue for the quarter, with a low and high estimate of 13.5M and 14.5M respectively. The average forecast suggests down to a -39.57% 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 76.6M, representing a -8.05% decline 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 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell 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 -19.51% and -26.98% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.93, while 7-day volatility ratio is 12.19% and 8.71% in the 30-day chart. Further, Navitas Semiconductor Corp (NVTS) has a beta value of 2.21, and an average true range (ATR) of 0.32. Analysts have given the company’s stock an average 52-week price target of $4.5, forecast between a low of $4 and high of $5. Looking at the price targets, the low is -68.07% off current price level while to achieve the yearly target high, price needs to move -110.08%. Nonetheless, investors will most likely welcome a -89.08% jump to $4.5 which is the analysts’ median price.
If we refocus on Navitas Semiconductor Corp (NASDAQ:NVTS), historical trading data shows that trading volumes averaged 6.23 million over the past 3 months. The company’s latest data on shares outstanding shows there are 186.80 million shares.
The 38.91% of Navitas Semiconductor Corp’s shares are in the hands of company insiders while institutional holders own 36.65% of the company’s shares. Current price change has pushed the stock -33.33% 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.
