Latch Inc. (NASDAQ:LTCH) has seen 1.07 million shares traded in the last trading session. The company, currently valued at $139.17M, closed the last trade at $0.97 per share which meant it gained $0.02 on the day or 1.79% during that session. The LTCH stock price is -593.81% off its 52-week high price of $6.73 and 45.36% above the 52-week low of $0.53. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.36 million shares traded. The 3-month trading volume is 641.48K shares.
Latch Inc. (NASDAQ:LTCH) trade information
Sporting 1.79% 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 LTCH stock price touched $0.97 or saw a rise of 7.62%. Year-to-date, Latch Inc. shares have moved 36.72%, while the 5-day performance has seen it change 7.77%. Over the past 30 days, the shares of Latch Inc. (NASDAQ:LTCH) have changed 29.41%. Short interest in the company has seen 6.43 million shares shorted with days to cover at 5.23.
Latch Inc. (LTCH) estimates and forecasts
Figures show that Latch Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -17.04% over the past 6 months, with this year growth rate of 21.88%, compared to 4.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 57.60% and -16.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 90.00%.
6 analysts offering their estimates for the company have set an average revenue estimate of $16.62 million for the current quarter. 6 have an estimated revenue figure of $23.2 million for the next quarter concluding in Sep 2022. Year-ago sales stood $10.07 million and $11.2 million respectively for this quarter and the next, and analysts expect sales will grow by 65.00% for the current quarter and 107.20% for the next.
Earnings growth for 2023 is a modest -875.90% while over the next 5 years, the company’s earnings are expected to increase by 49.70%.
Latch Inc. is expected to release its next earnings report between February 22 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Latch Inc. (NASDAQ:LTCH)’s Major holders
Insiders own 11.55% of the company shares, while shares held by institutions stand at 53.14% with a share float percentage of 60.07%. Investors are also buoyed by the number of investors in a company, with Latch Inc. having a total of 135 institutions that hold shares in the company. The top two institutional holders are Avenir Management Company, LLC with over 21.44 million shares worth more than $24.44 million. As of Jun 29, 2022, Avenir Management Company, LLC held 14.80% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 6.76 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $7.71 million and represent 4.67% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Jun 29, 2022, the former fund manager holds about 1.95% shares in the company for having 2.82 million shares of worth $3.22 million while later fund manager owns 2.19 million shares of worth $2.09 million as of Sep 29, 2022, which makes it owner of about 1.51% of company’s outstanding stock.