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Why Latch Inc. (NASDAQ: LTCH) Should Be On Your Watchlist

During the last session, Latch Inc. (NASDAQ:LTCH)’s traded shares were 1.16 million. At the end of the trading day, the stock’s price was $0.94, reflecting an intraday loss of -5.58% or -$0.06. The 52-week high for the LTCH share is $2.36, that puts it down -151.06 from that peak though still a striking 47.87% gain since the share price plummeted to a 52-week low of $0.49. The company’s market capitalization is $137.24M, and the average intraday trading volume over the past 10 days was 1.05 million shares, and the average trade volume was 399.97K shares over the past three months.

Latch Inc. (LTCH) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.00. LTCH has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.

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Latch Inc. (NASDAQ:LTCH) trade information

Latch Inc. (LTCH) registered a -5.58% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -5.58% in intraday trading to $0.94 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 1.40%, and it has moved by 29.57% in 30 days. Based on these gigs, the overall price performance for the year is -60.33%. The short interest in Latch Inc. (NASDAQ:LTCH) is 5.3 million shares and it means that shorts have 23.5 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.50, which implies an increase of 62.4% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.50 and $2.50 respectively. As a result, LTCH is trading at a discount of -165.96% off the target high and -165.96% off the low.

Latch Inc. (LTCH) estimates and forecasts

In the rating firms’ projections, revenue will increase 114.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $17.37 million as predicted by 3 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $23.45 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $9.01 million and $11.2 million respectively. In this case, analysts expect current quarter sales to grow by 92.70% and then jump by 109.40% in the coming quarter.

LTCH Dividends

Latch Inc. is due to release its next quarterly earnings between April 25 and April 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Latch Inc. (NASDAQ:LTCH)’s Major holders

Latch Inc. insiders own 11.51% of total outstanding shares while institutional holders control 48.05%, with the float percentage being 54.30%. Avenir Management Company, LLC is the largest shareholder of the company, while 118 institutions own stock in it. As of Mar 30, 2023, the company held over 21.44 million shares (or 14.80% of all shares), a total value of $16.34 million in shares.

The next largest institutional holding, with 6.83 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.72% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $5.21 million.

Also, the Mutual Funds coming in first place with the largest holdings of Latch Inc. (LTCH) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 3.07 million shares. This amounts to just over 2.12 percent of the company’s overall shares, with a $2.18 million market value. The same data shows that the other fund manager holds slightly less at 2.16 million, or about 1.49% of the stock, which is worth about $1.71 million.

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