During the last session, EQRx Inc. (NASDAQ:EQRX)’s traded shares were 1.3 million. At the end of the trading day, the stock’s price was $1.64, reflecting an intraday loss of -4.65% or -$0.08. The 52-week high for the EQRX share is $6.05, that puts it down -268.9 from that peak though still a striking 3.66% gain since the share price plummeted to a 52-week low of $1.58. The company’s market capitalization is $754.58M, and the average intraday trading volume over the past 10 days was 1.46 million shares, and the average trade volume was 2.05 million shares over the past three months.
EQRx Inc. (EQRX) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. EQRX has a Sell rating from 1 analyst(s) out of 4 analysts who have looked at this stock. 2 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 -$0.15.
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EQRx Inc. (NASDAQ:EQRX) trade information
EQRx Inc. (EQRX) registered a -4.65% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.65% in intraday trading to $1.64 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -2.96%, and it has moved by -2.38% in 30 days. Based on these gigs, the overall price performance for the year is -61.86%. The short interest in EQRx Inc. (NASDAQ:EQRX) is 18.12 million shares and it means that shorts have 11.33 day(s) to cover.
The consensus price target of analysts on Wall Street is $2.55, which implies an increase of 35.69% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.10 and $3.00 respectively. As a result, EQRX is trading at a discount of -82.93% off the target high and -28.05% off the low.
EQRx Inc. (EQRX) estimates and forecasts
Statistics show that EQRx Inc. has underperformed its competitors in share price, compared to the industry in which it operates. EQRx Inc. (EQRX) shares have gone down -52.19% during the last six months, with a year-to-date growth rate less than the industry average at -1.79% against 13.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 11.80% this quarter and then jump 11.10% in the quarter after that.
While earnings are projected to return -67.30% in 2023.
EQRx Inc. is due to release its next quarterly earnings on May 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
EQRx Inc. (NASDAQ:EQRX)’s Major holders
EQRx Inc. insiders own 10.85% of total outstanding shares while institutional holders control 72.93%, with the float percentage being 81.80%. Alphabet Inc. is the largest shareholder of the company, while 162 institutions own stock in it. As of Mar 30, 2023, the company held over 47.68 million shares (or 9.78% of all shares), a total value of $78.19 million in shares.
The next largest institutional holding, with 39.53 million shares, is of Casdin Capital, LLC’s that is approximately 8.11% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $64.83 million.
Also, the Mutual Funds coming in first place with the largest holdings of EQRx Inc. (EQRX) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 10.43 million shares. This amounts to just over 2.14 percent of the company’s overall shares, with a $17.11 million market value. The same data shows that the other fund manager holds slightly less at 9.0 million, or about 1.84% of the stock, which is worth about $14.76 million.