Splash Beverage Group Inc (AMEX: SBEV): Stock Forecast For 2024 Sees A A Decline Of -76.88%

In the last trading session, 1.31 million shares of the Splash Beverage Group Inc (AMEX:SBEV) were traded. Most recently the company’s share price was $0.37, and it changed around -$0.09 or -19.59% from the last close, which brings the market valuation of the company to $16.21M. SBEV currently trades at a discount to its 52-week high of $1.72, offering almost -364.86% off that amount. The share price’s 52-week low was $0.32, which indicates that the current value has risen by an impressive 13.51% since then. We note from Splash Beverage Group Inc’s average daily trading volume that its 10-day average is 0.22 million shares, with the 3-month average coming to 180.16K.

Splash Beverage Group Inc (AMEX:SBEV) trade information

Instantly SBEV has showed a red trend with a performance of -19.59% 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 down -33.04% year-to-date, but still down -26.67% over the last five days. On the other hand, Splash Beverage Group Inc (AMEX:SBEV) is -42.83% down in the 30-day period. We can see from the shorts that 0.24 million shares have been sold at a short interest cover period of 1.14 day(s).

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The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to increase their stock price by 92.6% from its current value. Analyst projections state that SBEV is forecast to be at a low of $5 and a high of $5.

Splash Beverage Group Inc (SBEV) estimates and forecasts

Splash Beverage Group Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -38.55 percent over the past six months and at a 12.07% annual growth rate that is well above the industry average of 7.60%. The year-over-year growth rate is expected to be 21.80%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $5.99 million in revenue for the current quarter. 1 analysts expect Splash Beverage Group Inc to make $9.13 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $4.79 million and $6.11 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 25.00%. Forecasts for the next quarter put sales growth at 49.40%.

SBEV Dividends

Splash Beverage Group Inc’s next quarterly earnings report is expected to be released around March 29 and April 02.

Splash Beverage Group Inc (AMEX:SBEV)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 22.15% of Splash Beverage Group Inc shares, and 5.85% of them are in the hands of institutional investors. The stock currently has a share float of 7.52%. Splash Beverage Group Inc stock is held by 34 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 2.94% of the shares, which is about 1.26 million shares worth $1.41 million.

Geode Capital Management, LLC, with 0.52% or 0.22 million shares worth $0.25 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.95 million shares worth $1.06 million, making up 2.22% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.3 million shares worth around $0.34 million, which represents about 0.70% of the total shares outstanding.