Is Near Intelligence Inc (NASDAQ: NIR) Stock An Instant Disaster Or An Incredible Opportunity?

In the latest trading session, 0.51 million Near Intelligence Inc (NASDAQ:NIR) shares changed hands as the company’s beta touched 0.37. With the company’s most recent per share price at $0.16 changed hands at -$0.02 or -9.22% at last look, the market valuation stands at $8.46M. NIR’s current price is a discount, trading about -11556.25% off its 52-week high of $18.65. The share price had its 52-week low at $0.13, which suggests the last value was 18.75% up since then. When we look at Near Intelligence Inc’s average trading volume, we note the 10-day average is 5.79 million shares, with the 3-month average coming to 3.63 million.

Near Intelligence Inc (NASDAQ:NIR) trade information

Instantly NIR was in red as seen in intraday trades today. With action -9.47%, the performance over the past five days has been red. The drop to weekly highs of 0.2030 on Monday, 11/20/23 subtracted -9.22% to the stock’s daily price. The company’s shares are showing year-to-date downside of -98.40%, with the 5-day performance at -9.47% in the red. However, in the 30-day time frame, Near Intelligence Inc (NASDAQ:NIR) is -6.74% down. Looking at the short shares, we see there were 0.21 million shares sold at short interest cover period of 0.15 days.

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The consensus price target for the stock as assigned by Wall Street analysts is $3.50, meaning bulls need an upside of 95.43% from its recent market value. According to analyst projections, NIR’s forecast low is $2.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -3025.0% plunge from its current level, while the stock would need to soar -1150.0% for it to hit the projected low.

Near Intelligence Inc (NIR) estimates and forecasts

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $20.1 million. 1 analysts are of the opinion that Near Intelligence Inc’s revenue for the quarter ending Dec 2023 will be $21.9 million.

Near Intelligence Inc (NASDAQ:NIR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 59.73% of Near Intelligence Inc shares while 25.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.28%. There are 25.88% institutions holding the Near Intelligence Inc stock share, with JP Morgan Chase & Company the top institutional holder. As of Sep 29, 2023, the company held 11.31% of the shares, roughly 5.85 million NIR shares worth $0.95 million.

Polar Asset Management Partners Inc. holds the second largest percentage of outstanding shares, with 3.43% or 1.77 million shares worth $0.29 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were Fidelity Extended Market Index Fund and Schwab Strategic Tr-Schwab U.S. Small Cap ETF. With 79010.0 shares estimated at $12839.0 under it, the former controlled 0.15% of total outstanding shares. On the other hand, Schwab Strategic Tr-Schwab U.S. Small Cap ETF held about 0.11% of the shares, roughly 55983.0 shares worth around $9097.0.

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