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Latham Group Inc. (NASDAQ:SWIM) Jumps 27.02%, But Additional Rally May Be Imminent

In last trading session, Latham Group Inc. (NASDAQ:SWIM) saw 1.54 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $3.62 trading at $0.77 or 27.02% at ring of the bell on the day assigns it a market valuation of $424.01M. That closing price of SWIM’s stock is at a discount of -652.76% from its 52-week high price of $27.25 and is indicating a premium of 24.03% from its 52-week low price of $2.75. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.11 million shares which gives us an average trading volume of 710.20K if we extend that period to 3-months.

For Latham Group Inc. (SWIM), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 9 analysts covering the stock, 1 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.17 in the current quarter.

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Latham Group Inc. (NASDAQ:SWIM) trade information

Upright in the green during last session for gaining 27.02%, in the last five days SWIM remained trading in the green while hitting it’s week-highest on Wednesday, 11/23/22 when the stock touched $3.62 price level, adding 1.09% to its value on the day. Latham Group Inc.’s shares saw a change of -85.54% in year-to-date performance and have moved 14.56% in past 5-day. Latham Group Inc. (NASDAQ:SWIM) showed a performance of -15.62% in past 30-days. Number of shares sold short was 2.41 million shares which calculate 3.9 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $6.06 to the stock, which implies a rise of 40.26% to its current value. Analysts have been projecting $3.50 as a low price target for the stock while placing it at a high target of $10.00. It follows that stock’s current price would drop -176.24% in reaching the projected high whereas dropping to the targeted low would mean a gain of 3.31% for stock’s current value.

Latham Group Inc. (SWIM) estimates and forecasts

Statistics highlight that Latham Group Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -56.96% of value to its shares in past 6 months, showing an annual growth rate of 346.15% while that of industry is 12.70. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -26.10% in the current quarter and calculating -50.00% decrease in the next quarter. This year revenue growth is estimated to rise 21.00% from the last financial year’s standing.

6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $190.89 million for the same. And 6 analysts are in estimates of company making revenue of $158.35 million in the next quarter that will end on Dec 2022. Company posted $158.74 million and $138.86 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 20.30% while estimating it to be 14.00% for the next quarter.

In 2022, company’s earnings growth rate is likely to be around -524.60% while estimates for its earnings growth in next 5 years are of 43.40%.

SWIM Dividends

Latham Group 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.

Latham Group Inc. (NASDAQ:SWIM)’s Major holders

Insiders are in possession of 9.67% of company’s total shares while institution are holding 88.92 percent of that, with stock having share float percentage of 98.44%. Investors also watch the number of corporate investors in a company very closely, which is 88.92% institutions for Latham Group Inc. that are currently holding shares of the company. Kayne Anderson Rudnick Investment Management LLC is the top institutional holder at SWIM for having 7.65 million shares of worth $52.98 million. And as of Jun 29, 2022, it was holding 6.53% of the company’s outstanding shares.

The second largest institutional holder is AllianceBernstein, L.P., which was holding about 6.27 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 5.36% of outstanding shares, having a total worth of $43.48 million.

On the other hand, AB Discovery Growth Fund and Virtus Equity Tr-Virtus KAR Small Cap Value Fd are the top two Mutual Funds which own company’s shares. As of Aug 30, 2022, the former fund manager was holding 3.28 million shares of worth $18.72 million or 2.80% of the total outstanding shares. The later fund manager was in possession of 1.65 million shares on Jun 29, 2022, making its stake of worth around $11.46 million in the company or a holder of 1.41% of company’s stock.

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