In last trading session, American Coastal Insurance Corp (NASDAQ:ACIC) saw 0.54 million shares changing hands with its beta currently measuring -0.16. Company’s recent per share price level of $8.12 trading at -$0.09 or -1.10% at ring of the bell on the day assigns it a market valuation of $356.47M. That closing price of ACIC’s stock is at a discount of -22.66% from its 52-week high price of $9.96 and is indicating a premium of 96.43% from its 52-week low price of $0.29. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.68 million shares which gives us an average trading volume of 449.50K if we extend that period to 3-months.
For American Coastal Insurance Corp (ACIC), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.67. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 0 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 in the current quarter.
American Coastal Insurance Corp (NASDAQ:ACIC) trade information
Upright in the red during last session for losing -1.10%, in the last five days ACIC remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $8.12 price level, adding 18.47% to its value on the day. American Coastal Insurance Corp’s shares saw a change of 666.04% in year-to-date performance and have moved 10.48% in past 5-day. American Coastal Insurance Corp (NASDAQ:ACIC) showed a performance of 8.56% in past 30-days. Number of shares sold short was 1.65 million shares which calculate 5.78 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $1.90 to the stock, which implies a fall of -327.37% to its current value. Analysts have been projecting $1.90 as a low price target for the stock while placing it at a high target of $1.90. It follows that stock’s current price would jump 76.6% in reaching the projected high whereas dropping to the targeted low would mean a gain of 76.6% for stock’s current value.
American Coastal Insurance Corp (ACIC) estimates and forecasts
This year revenue growth is estimated to fall -21.60% from the last financial year’s standing.
1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $116.19 million for the same. And 1 analysts are in estimates of company making revenue of $134.18 million in the next quarter that will end on Dec 2022. Company posted $153.27 million and $145.08 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -24.20% while estimating it to be -7.50% for the next quarter.
American Coastal Insurance Corp is more likely to be releasing its next quarterly report on November 13 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.
American Coastal Insurance Corp (NASDAQ:ACIC)’s Major holders
Insiders are in possession of 55.58% of company’s total shares while institution are holding 10.95 percent of that, with stock having share float percentage of 24.65%. Investors also watch the number of corporate investors in a company very closely, which is 10.95% institutions for American Coastal Insurance Corp that are currently holding shares of the company. Tieton Capital Management, LLC is the top institutional holder at ACIC for having 2.28 million shares of worth $10.17 million. And as of Jun 29, 2023, it was holding 5.25% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 1.25 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 2.88% of outstanding shares, having a total worth of $5.58 million.
On the other hand, iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 0.4 million shares of worth $2.98 million or 0.91% of the total outstanding shares. The later fund manager was in possession of 0.37 million shares on Jun 29, 2023, making its stake of worth around $1.64 million in the company or a holder of 0.85% of company’s stock.