MP Materials Corporation (NYSE:MP) price on current trading day, fall -0.15% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $23.42.
A look at the stock’s price movement, the level at last check in today’s session was $23.46. Turning to its 52-week performance, $26.00 and $10.02 were the 52-week high and 52-week low respectively. Overall, MP moved 13.27% over the past month.
MP Materials Corporation’s market cap currently stands at around $3.82 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 61.31M for the company’s revenue for the quarter, with a low and high estimate of 54M and 68.1M respectively. The average forecast suggests up to a 25.93% 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 318.77M, representing a 56.37% 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 MP is a 50% 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.
9 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 1 analyst(s) rate the stock as a Hold, 8 recommend MP 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.
MP’s current price about -1.40% and 12.10% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.01, while 7-day volatility ratio is 5.74% and 5.09% in the 30-day chart. Further, MP Materials Corporation (MP) has a beta value of 2.30, and an average true range (ATR) of 1.18. Analysts have given the company’s stock an average 52-week price target of $21.25, forecast between a low of $16 and high of $23. Looking at the price targets, the low is 31.68% off recent price level in today’s trading while to achieve the yearly target high, it has to move 1.79%. Nonetheless, investors will most likely welcome a 9.27% jump to $21.25 which is the analysts’ median price.
If we refocus on MP Materials Corporation (NYSE:MP), historical trading data shows that trading volumes averaged 3.26 million over the past 3 months. The company’s latest data on shares outstanding shows there are 163.20 million shares.
The 28.05% of MP Materials Corporation’s shares are in the hands of company insiders while institutional holders own 66.53% of the company’s shares. Current price change has pushed the stock 50.16% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MP stock continues to rise going into the next quarter.
