Absci Corp (NASDAQ:ABSI) has a beta value of 2.36 and has seen 1.02 million shares traded in the last trading session. The company, currently valued at $636.08M, closed the last trade at $5.64 per share which meant it lost -$0.1 on the day or -1.74% during that session. The ABSI stock price is -13.48% off its 52-week high price of $6.40 and 80.32% above the 52-week low of $1.11. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.27 million shares traded. The 3-month trading volume is 1.54 million shares.
Absci Corp (NASDAQ:ABSI) trade information
Sporting -1.74% in the red in last session, the stock has traded in the green over the last five days, when the ABSI stock price touched $5.64 or saw a rise of 2.08%. Year-to-date, Absci Corp shares have moved 34.29%, while the 5-day performance has seen it change 0.53%. Over the past 30 days, the shares of Absci Corp (NASDAQ:ABSI) have changed 9.94%. Short interest in the company has seen 10.68 million shares shorted with days to cover at 5.61.
Absci Corp (ABSI) estimates and forecasts
Figures show that Absci Corp shares have outperformed across the wider relevant industry. The company’s shares have gained 311.68% over the past 6 months, with this year growth rate of 25.49%, compared to 13.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 19.20% and 55.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 91.70%.
5 analysts offering their estimates for the company have set an average revenue estimate of $2.42 million for the current quarter. 5 have an estimated revenue figure of $3.08 million for the next quarter concluding in Jun 2024. Year-ago sales stood $1.27 million and $3.37 million respectively for this quarter and the next, and analysts expect sales will grow by 90.70% for the current quarter and -8.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -46.78% over the past 5 years. Earnings growth for 2024 is a modest 29.72% while over the next 5 years, the company’s earnings are expected to increase by 23.30%.
ABSI Dividends
Absci Corp is expected to release its next earnings report between March 25 and March 29 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Absci Corp (NASDAQ:ABSI)’s Major holders
Insiders own 22.65% of the company shares, while shares held by institutions stand at 34.05% with a share float percentage of 44.02%. Investors are also buoyed by the number of investors in a company, with Absci Corp having a total of 86 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 13.86 million shares worth more than $21.07 million. As of Jun 29, 2023, FMR, LLC held 14.95% of shares outstanding.
The other major institutional holder is Redmile Group, LLC, with the holding of over 8.03 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $12.21 million and represent 8.66% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. As of Aug 30, 2023, the former fund manager holds about 4.29% shares in the company for having 3.97 million shares of worth $7.11 million while later fund manager owns 1.45 million shares of worth $2.21 million as of Jun 29, 2023, which makes it owner of about 1.57% of company’s outstanding stock.
