Can Metromile Inc. (NASDAQ: MILE) Shares Make A Higher Price Run? – Marketing Sentinel
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Can Metromile Inc. (NASDAQ: MILE) Shares Make A Higher Price Run?

In the last trading session, 1.22 million shares of the Metromile Inc. (NASDAQ:MILE) were traded. Most recently the company’s share price was $0.80, and it changed around $0.01 or 1.74% from the last close, which brings the market valuation of the company to $101.45M. MILE currently trades at a discount to its 52-week high of $9.63, offering almost -1103.75% off that amount. The share price’s 52-week low was $0.75, which indicates that the current value has risen by an impressive 6.25% since then. We note from Metromile Inc.’s average daily trading volume that its 10-day average is 1.1 million shares, with the 3-month average coming to 1.00 million.

Metromile Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended MILE as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Metromile Inc. is expected to report earnings per share of -$0.1 for the current quarter.

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Metromile Inc. (NASDAQ:MILE) trade information

Instantly MILE has showed a green trend with a performance of 1.74% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.9838 on Tuesday, 06/21/22 increased the stock’s daily price by 18.68%. The company’s shares are currently down -63.25% year-to-date, but still down -1.58% over the last five days. On the other hand, Metromile Inc. (NASDAQ:MILE) is -21.09% down in the 30-day period. We can see from the shorts that 9.28 million shares have been sold at a short interest cover period of 10.27 day(s).

Metromile Inc. (MILE) estimates and forecasts

Metromile Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -65.60 percent over the past six months and at a 47.09% annual growth rate that is well above the industry average of 6.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 92.70% in revenue this quarter, and will report an increase of 33.30% in the next quarter. The year-over-year growth rate is expected to be -1.10%, down from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $20.7 million in revenue for the current quarter. 1 analysts expect Metromile Inc. to make $23.24 million in revenue for the quarter ending Jun 2022. The company’s sales for the same quarters a year ago were $17.28 million and $13.44 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.80%. Forecasts for the next quarter put sales growth at 72.90%.

MILE Dividends

Metromile Inc.’s next quarterly earnings report is expected to be released around March 28 and April 01.

Metromile Inc. (NASDAQ:MILE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 24.51% of Metromile Inc. shares, and 83.84% of them are in the hands of institutional investors. The stock currently has a share float of 111.07%. Metromile Inc. stock is held by 152 institutions, with NEA Management Company, LLC being the largest institutional investor. By Dec 30, 2021, it held 7.20% of the shares, which is about 9.38 million shares worth $20.55 million.

Index Venture Associates V Ltd, with 5.59% or 7.29 million shares worth $15.97 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Dec 30, 2021. The former held 2.33 million shares worth $5.1 million, making up 1.78% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.18 million shares worth around $3.63 million, which represents about 1.68% of the total shares outstanding.

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