Outset Medical Inc (NASDAQ:OM) shares, rose in value, with the stock price up by 5.67% to the previous day’s close as strong demand from buyers drove the stock to $2.05.
Actively observing the price movement in the last trading, the stock closed the session at $1.94. The value of beta (5-year monthly) was 2.04. Referring to stock’s 52-week performance, its high was $24.13, and the low was $1.94. On the whole, OM has fluctuated by -26.79% over the past month.
With the market capitalization of Outset Medical Inc currently standing at about $103.55 million, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 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 -$0.54, which is expected to increase to -$0.46 for fiscal year -$2.06 and then to about -$1.8 by fiscal year 2025. Data indicates that the EPS growth is expected to be 23.70% in 2025, while the next year’s EPS growth is forecast to be 12.60%.
Analysts have estimated the company’s revenue for the quarter at $30.45 million, with a low estimate of $29.6 million and a high estimate of $31 million. According to the average forecast, sales growth in current quarter could jump down -4.10%, 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 $148.42 million, representing an increase of 13.80% 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 OM’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 OM currently trading nearly -8.88% and -28.78% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.77, while the 7-day volatility ratio is showing 9.74% which for the 30-day chart, stands at 10.19%. Furthermore, Outset Medical Inc (OM)’s beta value is 1.99, and its average true range (ATR) is 0.24.
A comparison of Outset Medical Inc (OM) with its peers suggests the former has fared considerably weaker in the market. OM showed an intraday change of 5.67% in last session, and over the past year, it shrunk by -88.67%%.
Data on historical trading for Outset Medical Inc (NASDAQ:OM) indicates that the trading volumes over the past 10 days have averaged 0.76 million and over the past 3 months, they’ve averaged 995.06K. According to company’s latest data on outstanding shares, there are 50.32 million shares outstanding.
Nearly 8.20% of Outset Medical Inc’s shares belong to company insiders and institutional investors own 105.24% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.52 million shares as on Mar 15, 2024, resulting in a short ratio of 7.23. According to the data, the short interest in Outset Medical Inc (OM) stood at 16.86% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.02 million. The stock has fallen by -62.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OM stock heading into the next quarter.
