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Blend Labs Inc. (NYSE:BLND) At $2.25: What To Do?

In last trading session, Blend Labs Inc. (NYSE:BLND) saw 1.59 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $2.25 trading at -$0.01 or -0.44% at ring of the bell on the day assigns it a market valuation of $590.45M. That closing price of BLND’s stock is at a discount of -622.67% from its 52-week high price of $16.26 and is indicating a premium of 3.56% from its 52-week low price of $2.17. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.04 million shares which gives us an average trading volume of 2.24 million if we extend that period to 3-months.

For Blend Labs Inc. (BLND), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.00. Splitting up the data highlights that, out of 10 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.19 in the current quarter.

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Blend Labs Inc. (NYSE:BLND) trade information

Upright in the red during last session for losing -0.44%, in the last five days BLND remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $2.25 price level, adding 25.0% to its value on the day. Blend Labs Inc.’s shares saw a change of -69.35% in year-to-date performance and have moved -26.23% in past 5-day. Blend Labs Inc. (NYSE:BLND) showed a performance of -21.88% in past 30-days. Number of shares sold short was 15.12 million shares which calculate 5.28 days to cover the short interests.

Blend Labs Inc. (BLND) estimates and forecasts

Statistics highlight that Blend Labs Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -64.73% of value to its shares in past 6 months, showing an annual growth rate of 19.32% while that of industry is 2.30. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 62.70% in the current quarter and calculating -30.80% decrease in the next quarter. This year revenue growth is estimated to fall -0.60% from the last financial year’s standing.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $58.32 million for the same. And 10 analysts are in estimates of company making revenue of $52.66 million in the next quarter that will end on Sep 2022. Company posted $98.22 million and $86.31 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -40.60% while estimating it to be -39.00% for the next quarter.

BLND Dividends

Blend Labs Inc. is more likely to be releasing its next quarterly report on November 10 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Blend Labs Inc. (NYSE:BLND)’s Major holders

Insiders are in possession of 6.56% of company’s total shares while institution are holding 67.25 percent of that, with stock having share float percentage of 71.98%. Investors also watch the number of corporate investors in a company very closely, which is 67.25% institutions for Blend Labs Inc. that are currently holding shares of the company. Tiger Global Management, LLC is the top institutional holder at BLND for having 19.78 million shares of worth $112.77 million. And as of Mar 30, 2022, it was holding 8.99% of the company’s outstanding shares.

The second largest institutional holder is Formation8 GP, LLC, which was holding about 16.22 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 7.37% of outstanding shares, having a total worth of $218.65 million.

On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Mar 30, 2022, the former fund manager was holding 4.48 million shares of worth $25.55 million or 2.04% of the total outstanding shares. The later fund manager was in possession of 4.04 million shares on Jun 29, 2022, making its stake of worth around $9.54 million in the company or a holder of 1.84% of company’s stock.

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