Guardant Health Inc (NASDAQ:GH) shares, rose in value, with the stock price down by -7.87% to the previous day’s close as strong demand from buyers drove the stock to $18.15.
Actively observing the price movement in the last trading, the stock closed the session at $19.70. The value of beta (5-year monthly) was 0.87. Referring to stock’s 52-week performance, its high was $41.06, and the low was $16.92. On the whole, GH has fluctuated by -3.30% over the past month.
With the market capitalization of Guardant Health Inc currently standing at about $2.21 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 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 -$0.84, which is expected to increase to -$0.63 for fiscal year -$3.16 and then to about -$2.86 by fiscal year 2025. Data indicates that the EPS growth is expected to be 26.20% in 2025, while the next year’s EPS growth is forecast to be 9.50%.
Analysts have estimated the company’s revenue for the quarter at $150.42 million, with a low estimate of $147 million and a high estimate of $161.9 million. According to the average forecast, sales growth in current quarter could jump up 16.90%, 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 $664.03 million, representing an increase of 17.70% 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 GH’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 GH currently trading nearly -2.70% and -11.02% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.79, while the 7-day volatility ratio is showing 11.68% which for the 30-day chart, stands at 6.64%. Furthermore, Guardant Health Inc (GH)’s beta value is 0.90, and its average true range (ATR) is 1.33.
A comparison of Guardant Health Inc (GH) with its peers suggests the former has fared considerably weaker in the market. GH showed an intraday change of -7.87% in last session, and over the past year, it shrunk by -24.56%%.
Data on historical trading for Guardant Health Inc (NASDAQ:GH) indicates that the trading volumes over the past 10 days have averaged 2.77 million and over the past 3 months, they’ve averaged 1.89 million. According to company’s latest data on outstanding shares, there are 121.63 million shares outstanding.
Nearly 4.78% of Guardant Health Inc’s shares belong to company insiders and institutional investors own 92.54% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.76 million shares as on Mar 15, 2024, resulting in a short ratio of 3.91. According to the data, the short interest in Guardant Health Inc (GH) stood at 6.37% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 5.68 million. The stock has fallen by -32.90% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GH stock heading into the next quarter.
