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Analysts Recommend Holding Your Position In Cava Group Inc (NYSE: CAVA)

Cava Group Inc (NYSE:CAVA) price closed lower on Friday, November 17, dropping -0.47% below its previous close.

A look at the daily price movement shows that the last close reads $34.28, with intraday deals fluctuated between $32.91 and $34.42. Taking into account the 52-week price action we note that the stock hit a 52-week high of $58.10 and 52-week low of $29.05. The stock added 1.49% on its value in the past month.

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Cava Group Inc, which has a market valuation of $3.88 billion. Analysts tracking CAVA have forecast the quarterly EPS to shrink by -0.01 per share this quarter, while the same analysts predict the annual EPS to hit $0.15 for the year 2023 and up to $0.12 for 2024.

On average, analysts have forecast the company’s revenue for the quarter will hit $172.54 million, with the likely lows of $168.1 million and highs of $175.8 million. Staying with the analyst view, there is a consensus estimate of $724.68 million for the company’s annual revenue in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and no downward reviews.

The overview shows that CAVA’s price is at present 4.52% off the SMA20 and 3.83% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 54.48, with weekly volatility standing at 4.75%. The indicator jumps to 5.81% when calculated based on the past 30 days. Cava Group Inc (NYSE:CAVA)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 1.92. Considering analysts have assigned the stock a price target range of $35.00-$55.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $42.89. Based on this estimate, we see that current price is roughly -2.58% off the estimated low and -61.2% off the forecast high. Investors will no doubt be excited to see the share price fall to $42.00, which is the median consensus price, and at that level CAVA would be -23.09% from current price.

An analysis of the Cava Group Inc (NYSE:CAVA) stock in terms of its daily trading volume indicates that the 3-month average is 1.52 million. However, this figure increases on the past 10-day timeline to an average of 1.92 million.

Current records show that the company has 111.39M in outstanding shares. The insiders’ percentage holdings are 27.89% of outstanding shares while the percentage share held by institutions stands at 61.20%. The stats also highlight that short interest as of Oct 30, 2023, stood at 10.32 million shares, which puts the short ratio at the time at 9.05. From this we can glean that short interest is 9.08% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 8.76 million. But the -22.06% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.