Analyzing Nxu Inc(NASDAQ: NXU) Stock as a Disaster or Opportunity

In the last trading session, 12.77 million Nxu Inc (NASDAQ:NXU) shares changed hands as the company’s beta touched 3.29. With the company’s per share price at $0.03 changed hands at $0.0 or -3.61% during last session, the market valuation stood at $1.79M. NXU’s last price was a discount, traded about -37566.67% off its 52-week high of $11.30. The share price had its 52-week low at $0.03. When we look at Nxu Inc’s average trading volume, we note the 10-day average is 28.4 million shares, with the 3-month average coming to 20.45 million.

Analysts gave the Nxu Inc (NXU) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended NXU as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Nxu Inc’s EPS for the current quarter is expected to be -$0.1.

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Nxu Inc (NASDAQ:NXU) trade information

Instantly NXU was in red as seen at the end of in last trading. With action -4.98%, the performance over the past five days has been red. The drop to weekly highs of 0.0300 on Friday, 11/17/23 subtracted -3.61% to the stock’s daily price. The company’s shares are showing year-to-date downside of -99.18%, with the 5-day performance at -4.98% in the red. However, in the 30-day time frame, Nxu Inc (NASDAQ:NXU) is -39.86% down. Looking at the short shares, we see there were 4.56 million shares sold at short interest cover period of 0.11 days.

The consensus price target for the stock as assigned by Wall Street analysts is $0.75, meaning bulls need an upside of 96.0% from its current market value. According to analyst projections, NXU’s forecast low is $0.75 with $0.75 as the target high. To hit the forecast high, the stock’s price needs a -2400.0% plunge from its current level, while the stock would need to soar -2400.0% for it to hit the projected low.

Nxu Inc (NXU) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Nxu Inc will rise 95.50%, while the growth in revenue is estimated to hit 87.90% for the next quarter.

NXU Dividends

Nxu Inc is expected to release its next quarterly earnings report in December.

Nxu Inc (NASDAQ:NXU)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.18% of Nxu Inc shares while 3.48% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 3.56%. There are 3.48% institutions holding the Nxu Inc stock share, with Schonfeld Strategic Advisors Llc the top institutional holder. As of Jun 29, 2023, the company held 0.37% of the shares, roughly 0.37 million NXU shares worth $0.19 million.

Geode Capital Management, LLC holds the second largest percentage of outstanding shares, with 0.22% or 0.21 million shares worth $0.11 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Schwab Strategic Tr-Schwab U.S. Small Cap ETF. With 66186.0 shares estimated at $35105.0 under it, the former controlled 0.07% of total outstanding shares. On the other hand, Schwab Strategic Tr-Schwab U.S. Small Cap ETF held about 0.05% of the shares, roughly 47744.0 shares worth around $23394.0.

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