Does Elevate Credit Inc. (ELVT)’s Current Price Volatility Hinder Its Future Potential? – Marketing Sentinel
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Does Elevate Credit Inc. (ELVT)’s Current Price Volatility Hinder Its Future Potential?

Elevate Credit Inc. (NYSE:ELVT) has a beta value of 2.71 and has seen 0.4 million shares traded in the last trading session. The company, currently valued at $117.58M, closed the last trade at $3.53 per share which meant it gained $0.03 on the day or 0.86% during that session. The ELVT stock price is -38.81% off its 52-week high price of $4.90 and 42.49% above the 52-week low of $2.03. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.25 million shares traded. The 3-month trading volume is 287.21K shares.

The consensus among analysts is that Elevate Credit Inc. (ELVT) is a Hold stock at the moment, with a recommendation rating of 2.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 4 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.1.

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Elevate Credit Inc. (NYSE:ELVT) trade information

Sporting 0.86% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 09/03/21 when the ELVT stock price touched $3.53 or saw a rise of 3.55%. Year-to-date, Elevate Credit Inc. shares have moved -11.53%, while the 5-day performance has seen it change -4.08%. Over the past 30 days, the shares of Elevate Credit Inc. (NYSE:ELVT) have changed -2.75%. Short interest in the company has seen 0.84 million shares shorted with days to cover at 2.27.

Wall Street analysts have a consensus price target for the stock at $4.55, which means that the shares’ value could jump 22.42% from current levels. The projected low price target is $3.50 while the price target rests at a high of $5.60. In that case, then, we find that the current price level is -58.64% off the targeted high while a plunge would see the stock lose 0.85% from current levels.

Elevate Credit Inc. (ELVT) estimates and forecasts

Figures show that Elevate Credit Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -21.38% over the past 6 months, with this year growth rate of -109.20%, compared to 5.00% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -150.00% and -130.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be -17.50%.

4 analysts offering their estimates for the company have set an average revenue estimate of $89.41 million for the current quarter. 4 have an estimated revenue figure of $99.51 million for the next quarter concluding in Sep 2021.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 28.60% over the past 5 years. Earnings growth for 2021 is a modest 46.70% while over the next 5 years, the company’s earnings are expected to decrease by -1.22%.

ELVT Dividends

Elevate Credit Inc. is expected to release its next earnings report between November 08 and November 12 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Elevate Credit Inc. (NYSE:ELVT)’s Major holders

Insiders own 25.66% of the company shares, while shares held by institutions stand at 50.64% with a share float percentage of 68.12%. Investors are also buoyed by the number of investors in a company, with Elevate Credit Inc. having a total of 74 institutions that hold shares in the company. The top two institutional holders are Requisite Capital Management, LLC with over 1.69 million shares worth more than $4.93 million. As of Mar 30, 2021, Requisite Capital Management, LLC held 4.72% of shares outstanding.

The other major institutional holder is Renaissance Technologies, LLC, with the holding of over 1.42 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $4.15 million and represent 3.97% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Bridgeway Funds Inc-Ultra Small Company Fund. As of Mar 30, 2021, the former fund manager holds about 2.36% shares in the company for having 0.85 million shares of worth $2.47 million while later fund manager owns 0.45 million shares of worth $1.31 million as of Mar 30, 2021, which makes it owner of about 1.26% of company’s outstanding stock.

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