The Most Interesting Shares Today: Charge Enterprises Inc (NASDAQ: CRGE)

In the last trading session, 11.3 million Charge Enterprises Inc (NASDAQ:CRGE) shares changed hands as the company’s beta touched 2.70. With the company’s per share price at $0.10 changed hands at $0.0 or 1.78% during last session, the market valuation stood at $22.15M. CRGE’s last price was a discount, traded about -1440.0% off its 52-week high of $1.54. The share price had its 52-week low at $0.08, which suggests the last value was 20.0% up since then. When we look at Charge Enterprises Inc’s average trading volume, we note the 10-day average is 8.35 million shares, with the 3-month average coming to 0.67.

Charge Enterprises Inc (NASDAQ:CRGE) trade information

Instantly CRGE was in green as seen at the end of in last trading. With action -28.77%, the performance over the past five days has been red. The jump to weekly highs of 0.1463 added 1.78% to the stock’s daily price. The company’s shares are showing year-to-date downside of -9.73%, with the 5-day performance at -28.77% in the red. However, in the 30-day time frame, Charge Enterprises Inc (NASDAQ:CRGE) is 14.96% up. Looking at the short shares, we see there were 18.13 million shares sold at short interest cover period of 0.4 days.

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Charge Enterprises Inc (CRGE) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Charge Enterprises Inc will rise 33.30%. Year-over-year growth is forecast to reach -12.90% down 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 $134.06 million. 1 analysts are of the opinion that Charge Enterprises Inc’s revenue for the quarter ending Mar 2024 will be $123.4 million. The company’s revenue for the corresponding quarters a year ago was $167.96 million and $193.55 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -20.20%. The estimates for the next quarter sales put growth at -36.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -133.34%. The 2024 estimates are for Charge Enterprises Inc earnings to increase by 48.57%.

Charge Enterprises Inc (NASDAQ:CRGE)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 49.25% of Charge Enterprises Inc shares while 22.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 45.09%. There are 22.88% institutions holding the Charge Enterprises Inc stock share, with Arena Investors LP the top institutional holder. As of Jun 29, 2023, the company held 6.11% of the shares, roughly 11.6 million CRGE shares worth $11.37 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.25% or 8.07 million shares worth $7.91 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. With 3.03 million shares estimated at $1.65 million under it, the former controlled 1.60% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.34% of the shares, roughly 2.55 million shares worth around $2.5 million.

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