Indie Semiconductor Inc (NASDAQ:INDI) shares, rose in value, with the stock price up by 4.67% to the previous day’s close as strong demand from buyers drove the stock to $6.72.
Actively observing the price movement in the last trading, the stock closed the session at $6.42. The value of beta (5-year monthly) was 1.13. Referring to stock’s 52-week performance, its high was $10.85, and the low was $4.67. On the whole, INDI has fluctuated by 3.23% over the past month.
With the market capitalization of Indie Semiconductor Inc currently standing at about $1.23 billion, 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 -$0.08, which is expected to increase to -$0.06 for fiscal year -$0.18 and then to about $0.16 by fiscal year 2025. Data indicates that the EPS growth is expected to be 45.50% in 2025, while the next year’s EPS growth is forecast to be 188.90%.
Analysts have estimated the company’s revenue for the quarter at $56.17 million, with a low estimate of $56 million and a high estimate of $56.8 million. According to the average forecast, sales growth in current quarter could jump up 40.40%, 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 $282.88 million, representing an increase of 26.80% 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 INDI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of INDI currently trading nearly 1.78% and 1.05% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.63, while the 7-day volatility ratio is showing 6.66% which for the 30-day chart, stands at 5.67%. Furthermore, Indie Semiconductor Inc (INDI)’s beta value is 1.16, and its average true range (ATR) is 0.41.
A comparison of Indie Semiconductor Inc (INDI) with its peers suggests the former has fared considerably weaker in the market. INDI showed an intraday change of 4.67% in last session, and over the past year, it shrunk by -29.41%%.
Data on historical trading for Indie Semiconductor Inc (NASDAQ:INDI) indicates that the trading volumes over the past 10 days have averaged 2.81 million and over the past 3 months, they’ve averaged 2.44 million. According to company’s latest data on outstanding shares, there are 163.19 million shares outstanding.
Nearly 16.59% of Indie Semiconductor Inc’s shares belong to company insiders and institutional investors own 68.47% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 21.43 million shares as on Mar 15, 2024, resulting in a short ratio of 6.87. According to the data, the short interest in Indie Semiconductor Inc (INDI) stood at 12.84% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 19.44 million. The stock has fallen by -17.14% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INDI stock heading into the next quarter.
