Silk Road Medical Inc (NASDAQ: SILK) Stock: Does It Mean Opportunity?

In the last trading session, 1.16 million shares of the Silk Road Medical Inc (NASDAQ:SILK) were traded, and its beta was 1.48. Most recently the company’s share price was $18.32, and it changed around -$0.39 or -2.08% from the last close, which brings the market valuation of the company to $717.59M. SILK currently trades at a discount to its 52-week high of $46.57, offering almost -154.2% off that amount. The share price’s 52-week low was $6.08, which indicates that the current value has risen by an impressive 66.81% since then. We note from Silk Road Medical Inc’s average daily trading volume that its 10-day average is 0.68 million shares, with the 3-month average coming to 874.84K.

Silk Road Medical Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.30. If we narrow it down even further, the data shows that 1 out of 10 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 6 recommended SILK as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Silk Road Medical Inc is expected to report earnings per share of -$0.4 for the current quarter.

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Silk Road Medical Inc (NASDAQ:SILK) trade information

Instantly SILK has showed a red trend with a performance of -2.08% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 49.31% year-to-date, but still down -3.02% over the last five days. On the other hand, Silk Road Medical Inc (NASDAQ:SILK) is 3.56% up in the 30-day period. We can see from the shorts that 3.72 million shares have been sold at a short interest cover period of 3.71 day(s).

The consensus price target as assigned by Wall Street analysts is $35.75, which translates to bulls needing to increase their stock price by 48.76% from its current value. Analyst projections state that SILK is forecast to be at a low of $24 and a high of $46.

Silk Road Medical Inc (SILK) estimates and forecasts

Silk Road Medical Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 20.37 percent over the past six months and at a 3.47% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 7.00% in revenue this quarter, and will report a decrease of -2.90% in the next quarter. The year-over-year growth rate is expected to be 10.60%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $44.68 million in revenue for the current quarter. 9 analysts expect Silk Road Medical Inc to make $49.07 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $40.69 million and $45.3 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 9.80%. Forecasts for the next quarter put sales growth at 8.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -3.21%. Silk Road Medical Inc earnings are expected to increase by 3.26% in 2024, but the outlook is positive 16.20% per year for the next five years.

SILK Dividends

Silk Road Medical Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

Silk Road Medical Inc (NASDAQ:SILK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 5.93% of Silk Road Medical Inc shares, and 105.31% of them are in the hands of institutional investors. The stock currently has a share float of 111.96%. Silk Road Medical Inc stock is held by 188 institutions, with Wasatch Advisors LP being the largest institutional investor. By Dec 30, 2023, it held 10.34% of the shares, which is about 4.05 million shares worth $74.18 million.

Blackrock Inc., with 7.69% or 3.01 million shares worth $55.19 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Smallcap World Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 2.97 million shares worth $54.35 million, making up 7.57% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.17 million shares worth around $21.4 million, which represents about 2.98% of the total shares outstanding.