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Whole Earth Brands Inc (NASDAQ: FREE) Stock’s Potential for Success in the Coming Months

In the latest trading session, 16.62 million Whole Earth Brands Inc (NASDAQ:FREE) shares changed hands as the company’s beta touched 0.52. With the company’s most recent per share price at $4.74 changing hands around $1.23 or 35.08% at last look, the market valuation stands at $203.16M. FREE’s last price was a premium, traded about 10.13% off its 52-week high of $4.26. The share price had its 52-week low at $2.09, which suggests the last value was 55.91% up since then. When we look at Whole Earth Brands Inc’s average trading volume, we note the 10-day average is 0.15 million shares, with the 3-month average coming to 847.14.

Whole Earth Brands Inc (NASDAQ:FREE) trade information

Instantly FREE is in green as seen in intraday trades today. With action 31.34%, the performance over the past five days has been green. The jump to weekly highs of 4.77 added 35.08% to the stock’s daily price. The company’s shares are showing year-to-date upside of 39.04%, with the 5-day performance at 31.34% in the green. However, in the 30-day time frame, Whole Earth Brands Inc (NASDAQ:FREE) is 30.97% up. Looking at the short shares, we see there were 1.35 million shares sold at short interest cover period of 12.84 days.

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Whole Earth Brands Inc (FREE) 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 Whole Earth Brands Inc will rise 100.70%, while the growth in revenue is estimated to hit 95.70% for the next quarter. Year-over-year growth is forecast to reach 1.20% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $142.9 million. 1 analysts are of the opinion that Whole Earth Brands Inc’s revenue for the quarter ending Mar 2024 will be $138.02 million. The company’s revenue for the corresponding quarters a year ago was $138.9 million and $132.42 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2.90%. The estimates for the next quarter sales put growth at 4.20%.

The 2024 estimates are for Whole Earth Brands Inc earnings to increase by 66.90%.

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Whole Earth Brands Inc is expected to release its next quarterly earnings report between March 11 and March 15.

Whole Earth Brands Inc (NASDAQ:FREE)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 25.41% of Whole Earth Brands Inc shares while 55.92% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.98%. There are 55.92% institutions holding the Whole Earth Brands Inc stock share, with Armistice Capital, LLC the top institutional holder. As of Sep 29, 2023, the company held 5.02% of the shares, roughly 2.15 million FREE shares worth $10.21 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.54% or 1.94 million shares worth $9.24 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 1.33 million shares estimated at $6.33 million under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.24% of the shares, roughly 0.53 million shares worth around $2.53 million.

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