MP Materials Corporation (NYSE:MP) shares, rose in value, with the stock price down by -0.88% to the previous day’s close as strong demand from buyers drove the stock to $14.61.
Actively observing the price movement in the last trading, the stock closed the session at $14.74. The value of beta (5-year monthly) was 2.44 whereas the PE ratio was 122.26 over 12-month period. Referring to stock’s 52-week performance, its high was $28.71, and the low was $12.68. On the whole, MP has fluctuated by -0.88% over the past month.
With the market capitalization of MP Materials Corporation currently standing at about $2.60 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 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 -$0.01, which is expected to increase to $0.05 for fiscal year $0.15 and then to about $0.66 by fiscal year 2025. Data indicates that the EPS growth is expected to be -61.50% in 2025, while the next year’s EPS growth is forecast to be 340.00%.
Analysts have estimated the company’s revenue for the quarter at $51.61 million, with a low estimate of $48 million and a high estimate of $55.01 million. According to the average forecast, sales growth in current quarter could jump down -46.10%, 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 $262.29 million, representing an increase of 3.50% 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 MP’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 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 3.79, with the price of MP currently trading nearly 2.14% and -4.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.50, while the 7-day volatility ratio is showing 4.19% which for the 30-day chart, stands at 4.71%. Furthermore, MP Materials Corporation (MP)’s beta value is 2.39, and its average true range (ATR) is 0.69.
A comparison of MP Materials Corporation (MP) with its peers suggests the former has fared considerably weaker in the market. MP showed an intraday change of -0.88% in last session, and over the past year, it shrunk by -46.46%%.
Data on historical trading for MP Materials Corporation (NYSE:MP) indicates that the trading volumes over the past 10 days have averaged 3.03 million and over the past 3 months, they’ve averaged 3.42 million. According to company’s latest data on outstanding shares, there are 178.08 million shares outstanding.
Nearly 19.87% of MP Materials Corporation’s shares belong to company insiders and institutional investors own 53.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 27.74 million shares as on Mar 15, 2024, resulting in a short ratio of 5.81. According to the data, the short interest in MP Materials Corporation (MP) stood at 16.73% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.62 million. The stock has fallen by -26.40% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MP stock heading into the next quarter.
