Navitas Semiconductor Corporation (NASDAQ:NVTS) has seen 1.42 million shares traded in the last trading session. The company, currently valued at $719.08M, closed the last trade at $4.84 per share which meant it gained $0.09 on the day or 1.89% during that session. The NVTS stock price is -154.13% off its 52-week high price of $12.30 and 35.74% above the 52-week low of $3.11. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.08 million shares traded. The 3-month trading volume is 1.15 million shares.
The consensus among analysts is that Navitas Semiconductor Corporation (NVTS) is a Buy stock at the moment, with a recommendation rating of 1.90. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 1 out of 8 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.07.
Navitas Semiconductor Corporation (NASDAQ:NVTS) trade information
Sporting 1.89% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the NVTS stock price touched $4.84 or saw a rise of 3.39%. Year-to-date, Navitas Semiconductor Corporation shares have moved 37.89%, while the 5-day performance has seen it change 5.22%. Over the past 30 days, the shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have changed 32.60%. Short interest in the company has seen 8.27 million shares shorted with days to cover at 6.66.
Wall Street analysts have a consensus price target for the stock at $8.00, which means that the shares’ value could jump 39.5% from current levels. The projected low price target is $5.00 while the price target rests at a high of $14.00. In that case, then, we find that the current price level is -189.26% off the targeted high while a plunge would see the stock gain -3.31% from current levels.
Navitas Semiconductor Corporation (NVTS) estimates and forecasts
Figures show that Navitas Semiconductor Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 0.62% over the past 6 months, with this year growth rate of 55.56%, compared to 2.70% for the industry. Revenue growth from the last financial year stood is estimated to be 65.90%.
8 analysts offering their estimates for the company have set an average revenue estimate of $9.92 million for the current quarter. 8 have an estimated revenue figure of $14.06 million for the next quarter concluding in Dec 2022.
Earnings growth for 2023 is a modest -701.60% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
Navitas Semiconductor Corporation is expected to release its next earnings report between February 13 and February 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Navitas Semiconductor Corporation (NASDAQ:NVTS)’s Major holders
Insiders own 37.47% of the company shares, while shares held by institutions stand at 19.46% with a share float percentage of 31.13%. Investors are also buoyed by the number of investors in a company, with Navitas Semiconductor Corporation having a total of 114 institutions that hold shares in the company. The top two institutional holders are Capricorn Investment Group LLC with over 9.62 million shares worth more than $37.12 million. As of Jun 29, 2022, Capricorn Investment Group LLC held 6.33% of shares outstanding.
The other major institutional holder is State Street Corporation, with the holding of over 2.89 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $11.14 million and represent 1.90% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF. As of Sep 29, 2022, the former fund manager holds about 1.86% shares in the company for having 2.82 million shares of worth $13.69 million while later fund manager owns 2.06 million shares of worth $9.99 million as of Sep 29, 2022, which makes it owner of about 1.36% of company’s outstanding stock.