Methode Electronics, Inc (NYSE:MEI) shares, rose in value on Thursday, March 06, with the stock price down by -28.92% to the previous day’s close as strong demand from buyers drove the stock to $6.98.
Actively observing the price movement in the last trading, the stock closed the session at $9.82. Referring to stock’s 52-week performance, its high was $21.05, and the low was $8.54. On the whole, MEI has fluctuated by -36.08% over the past month.
With the market capitalization of Methode Electronics, Inc currently standing at about $248.88 million, investors are eagerly awaiting this quarter’s results, scheduled for in April. The company’s Forward Dividend Ratio is 0.56, with its dividend yield at 8.02%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.11B, with a low estimate of 285.62M and a high estimate of 297.85M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 292.72M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MEI’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 50% Buy while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of MEI currently trading nearly -32.48% and -38.14% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 23.22, while the 7-day volatility ratio is showing 9.00% which for the 30-day chart, stands at 5.67%. Furthermore, Methode Electronics, Inc (MEI)’s beta value is 0.77, and its average true range (ATR) is 0.78.
A comparison of Methode Electronics, Inc (MEI) with its peers suggests the former has fared considerably weaker in the market. MEI showed an intraday change of -28.92% in last session, and over the past year, it shrunk by -66.46%%.
Data on historical trading for Methode Electronics, Inc (NYSE:MEI) indicates that the trading volumes over the past 3 months, they’ve averaged 358.40K. According to company’s latest data on outstanding shares, there are 35.66 million shares outstanding.
Nearly 7.10% of Methode Electronics, Inc’s shares belong to company insiders and institutional investors own 93.99% of the company’s shares. The stock has fallen by -40.80% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MEI stock heading into the next quarter.
