Navitas Semiconductor Corp (NASDAQ:NVTS) price on Thursday, June 12, fall -1.88% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.81.
A look at the stock’s price movement, the close in the last trading session was $7.96. Turning to its 52-week performance, $9.17 and $1.52 were the 52-week high and 52-week low respectively. Overall, NVTS moved 264.95% over the past month.
Navitas Semiconductor Corp’s market cap currently stands at around $1.50 billion, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 14.36M for the company’s revenue for the quarter, with a low and high estimate of 13.5M and 14.53M respectively. The average forecast suggests down to a -29.83% 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 63.64M, representing a -23.60% 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 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.
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 49.72% and 142.75% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 72.12, while 7-day volatility ratio is 9.17% and 24.45% in the 30-day chart. Further, Navitas Semiconductor Corp (NVTS) has a beta value of 2.99, and an average true range (ATR) of 0.89. Analysts have given the company’s stock an average 52-week price target of $4, forecast between a low of $4 and high of $4. Looking at the price targets, the low is 48.78% off current price level while to achieve the yearly target high, price needs to move 48.78%. Nonetheless, investors will most likely welcome a 48.78% jump to $4 which is the analysts’ median price.
If we refocus on Navitas Semiconductor Corp (NASDAQ:NVTS), historical trading data shows that trading volumes averaged 29.49 million over the past 3 months. The company’s latest data on shares outstanding shows there are 191.76 million shares.
The 27.61% of Navitas Semiconductor Corp’s shares are in the hands of company insiders while institutional holders own 32.62% of the company’s shares. Current price change has pushed the stock 118.77% 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.
