NVIDIA Corp (NASDAQ:NVDA) price is hovering higher on Monday, November 20, jumping 1.26% above its previous close.
A look at today’s price movement shows that the recent level at last check reads $492.98, with intraday deals fluctuating between $490.07 and $497.17. The company’s 5Y monthly beta was ticking 1.69 while its P/E ratio in the trailing 12-month period read 120.59. Taking into account the 52-week price action we note that the stock hit a 52-week high of $502.66 and 52-week low of $138.84. The stock added 20.61% on its value in the past month.
NVIDIA Corp, which has a market valuation of $1232.97 billion, is expected to release its quarterly earnings report Nov 21, 2023. The company stock has a Forward Dividend ratio of 0.17, while the dividend yield is 0.03%. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking NVDA have forecast the quarterly EPS to grow by 3.37 per share this quarter, while the same analysts predict the annual EPS to hit $10.89 for the year 2023 and up to $17.29 for 2025. In this case, analysts estimate an annual EPS growth of 226.00% for the year and 58.80% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $16.18 billion, with the likely lows of $16 billion and highs of $17.02 billion. Staying with the analyst view, there is a consensus estimate of $55.05 billion for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 104.10% above that which the company brought in 2024.
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 3 upward and no downward reviews. On the technical perspective front, indicators give NVDA a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 1.53. The overview shows that NVDA’s price is at present 10.74% off the SMA20 and 12.38% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 68.69, with weekly volatility standing at 2.26%. The indicator jumps to 3.14% when calculated based on the past 30 days. NVIDIA Corp (NASDAQ:NVDA)’s beta value is holding at 1.73, while the average true range (ATR) indicator is currently reading 13.72.
Elsewhere in the market, the S&P 500 Index has rallied 0.26% in today’s early trading, with the Dow Jones Industrial also seeing a positive session on the day with 0.24%.
An analysis of the NVIDIA Corp (NASDAQ:NVDA) stock in terms of its daily trading volume indicates that the 3-month average is 48.51 million. However, this figure increases on the past 10-day timeline to an average of 39.94 million.
Current records show that the company has 2.47B in outstanding shares. The insiders’ percentage holdings are 4.08% of outstanding shares while the percentage share held by institutions stands at 67.73%. The stats also highlight that short interest as of Oct 30, 2023, stood at 26.17 million shares, which puts the short ratio at the time at 0.57. From this we can glean that short interest is 1.06% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 26.98 million. But the 241.58% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.