Navitas Semiconductor Corp (NASDAQ:NVTS) shares, rose in value, with the stock price down by -2.16% to the previous day’s close as strong demand from buyers drove the stock to $4.52.
Actively observing the price movement in the last trading, the stock closed the session at $4.62. The value of beta (5-year monthly) was 2.59. Referring to stock’s 52-week performance, its high was $11.16, and the low was $4.16. On the whole, NVTS has fluctuated by -15.99% over the past month.
With the market capitalization of Navitas Semiconductor Corp currently standing at about $810.21 million, investors are eagerly awaiting this quarter’s results, scheduled for May 13, 2024 – May 17, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.05, which is expected to increase to -$0.04 for fiscal year -$0.18 and then to about -$0.06 by fiscal year 2025. Data indicates that the EPS growth is expected to be 10.00% in 2025, while the next year’s EPS growth is forecast to be 66.70%.
Analysts have estimated the company’s revenue for the quarter at $22.93 million, with a low estimate of $22.5 million and a high estimate of $23 million. According to the average forecast, sales growth in current quarter could jump up 71.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $113.18 million, representing an increase of 42.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NVTS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NVTS currently trading nearly -5.27% and -18.54% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.56, while the 7-day volatility ratio is showing 6.02% which for the 30-day chart, stands at 7.07%. Furthermore, Navitas Semiconductor Corp (NVTS)’s beta value is 2.52, and its average true range (ATR) is 0.35.
A comparison of Navitas Semiconductor Corp (NVTS) with its peers suggests the former has fared considerably weaker in the market. NVTS showed an intraday change of -2.16% in last session, and over the past year, it shrunk by -37.48%%.
Data on historical trading for Navitas Semiconductor Corp (NASDAQ:NVTS) indicates that the trading volumes over the past 10 days have averaged 3.31 million and over the past 3 months, they’ve averaged 3.07 million. According to company’s latest data on outstanding shares, there are 179.20 million shares outstanding.
Nearly 34.34% of Navitas Semiconductor Corp’s shares belong to company insiders and institutional investors own 41.59% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.27 million shares as on Mar 15, 2024, resulting in a short ratio of 4.28. According to the data, the short interest in Navitas Semiconductor Corp (NVTS) stood at 10.75% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 15.08 million. The stock has fallen by -43.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NVTS stock heading into the next quarter.
