Is Acutus Medical Inc (NASDAQ: AFIB) Stock Ready For A Higher Run In Its Share Price?

In the latest trading session, 0.86 million Acutus Medical Inc (NASDAQ:AFIB) shares changed hands as the company’s beta touched 0.26. With the company’s most recent per share price at $0.28 changing hands around $0.03 or 11.79% at last look, the market valuation stands at $8.06M. AFIB’s current price is a discount, trading about -600.0% off its 52-week high of $1.96. The share price had its 52-week low at $0.16, which suggests the last value was 42.86% up since then. When we look at Acutus Medical Inc’s average trading volume, we note the 10-day average is 1.82 million shares, with the 3-month average coming to 345.28K.

Analysts gave the Acutus Medical Inc (AFIB) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. 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 AFIB as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Acutus Medical Inc’s EPS for the current quarter is expected to be -$0.62.

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Acutus Medical Inc (NASDAQ:AFIB) trade information

Instantly AFIB is in green as seen in intraday trades today. With action 37.78%, the performance over the past five days has been green. The jump to weekly highs of 0.2700 on Friday, 11/17/23 added 11.79% to the stock’s daily price. The company’s shares are showing year-to-date downside of -76.09%, with the 5-day performance at 37.78% in the green. However, in the 30-day time frame, Acutus Medical Inc (NASDAQ:AFIB) is -52.59% down. Looking at the short shares, we see there were 0.25 million shares sold at short interest cover period of 4.38 days.

The consensus price target for the stock as assigned by Wall Street analysts is $0.50, meaning bulls need an upside of 44.0% from its recent market value. According to analyst projections, AFIB’s forecast low is $0.50 with $0.50 as the target high. To hit the forecast high, the stock’s price needs a -78.57% plunge from its current level, while the stock would need to soar -78.57% for it to hit the projected low.

Acutus Medical Inc (AFIB) estimates and forecasts

Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Acutus Medical Inc will fall -251.20%. Year-over-year growth is forecast to reach 27.10% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $6.63 million. 1 analysts are of the opinion that Acutus Medical Inc’s revenue for the quarter ending Mar 2024 will be $6.81 million. The company’s revenue for the corresponding quarters a year ago was $4.96 million and $4.17 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 33.60%. The estimates for the next quarter sales put growth at 63.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 5.40%. The 2023 estimates are for Acutus Medical Inc earnings to increase by 27.06%.

AFIB Dividends

Acutus Medical Inc is expected to release its next quarterly earnings report on November 14.

Acutus Medical Inc (NASDAQ:AFIB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 4.26% of Acutus Medical Inc shares while 37.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.12%. There are 37.45% institutions holding the Acutus Medical Inc stock share, with Deerfield Management Company, L.P. (Series C) the top institutional holder. As of Jun 29, 2023, the company held 9.09% of the shares, roughly 2.66 million AFIB shares worth $2.36 million.

Orbimed Advisors LLC. holds the second largest percentage of outstanding shares, with 9.05% or 2.65 million shares worth $2.35 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.84 million shares estimated at $0.74 million under it, the former controlled 2.85% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.95% of the shares, roughly 0.28 million shares worth around $0.25 million.

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