In the last trading session, 2.62 million shares of the Latch Inc. (NASDAQ:LTCH) were traded. Most recently the company’s share price was $1.34, and it changed around -$0.04 or -2.90% from the last close, which brings the market valuation of the company to $178.47M. LTCH currently trades at a discount to its 52-week high of $14.83, offering almost -1006.72% off that amount. The share price’s 52-week low was $1.27, which indicates that the current value has risen by an impressive 5.22% since then. We note from Latch Inc.’s average daily trading volume that its 3-month average coming to 2.13 million.
Latch Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 6 recommended LTCH as a Hold, whereas 4 deemed it a Buy, and 1 rated it as Underweight. Latch Inc. is expected to report earnings per share of -$0.33 for the current quarter.
Latch Inc. (NASDAQ:LTCH) trade information
Instantly LTCH has showed a red trend with a performance of -2.90% 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 1.4800 on Tuesday, 06/21/22 increased the stock’s daily price by 9.46%. The company’s shares are currently down -82.30% year-to-date, but still down -2.90% over the last five days. On the other hand, Latch Inc. (NASDAQ:LTCH) is -39.37% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $4.02, which translates to bulls needing to increase their stock price by 66.67% from its current value. Analyst projections state that LTCH is forecast to be at a low of $2.00 and a high of $6.00. In order for the stock price to hit the forecast high, the stock would need to plunge -347.76% from its current level, while the stock would need to crash -49.25% from its current level to reach the projected low.
Latch Inc. (LTCH) estimates and forecasts
Latch 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 -82.32 percent over the past six months and at a 19.27% annual growth rate that is well above the industry average of 4.60%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 50.00% in revenue this quarter, and will report a decrease of -48.00% in the next quarter. The year-over-year growth rate is expected to be 104.80%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $17.44 million in revenue for the current quarter. 8 analysts expect Latch Inc. to make $24.59 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $10.07 million and $11.2 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 73.20%. Forecasts for the next quarter put sales growth at 119.60%.
Latch Inc. earnings are expected to increase by -875.90% in 2022, but the outlook is positive 49.70% per year for the next five years.
Latch Inc.’s next quarterly earnings report is expected to be released on November 09.
Latch Inc. (NASDAQ:LTCH)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 11.04% of Latch Inc. shares, and 62.02% of them are in the hands of institutional investors. The stock currently has a share float of 69.71%. Latch Inc. stock is held by 110 institutions, with Avenir Management Company, LLC being the largest institutional investor. By Dec 30, 2021, it held 14.93% of the shares, which is about 21.44 million shares worth $162.27 million.
Spruce House Investment Management LLC, with 9.75% or 14.0 million shares worth $105.98 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2021. The former held 2.83 million shares worth $21.43 million, making up 1.97% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 2.53 million shares worth around $19.12 million, which represents about 1.76% of the total shares outstanding.