SMART Global Holdings Inc (NASDAQ:SGH) has a beta value of 1.73 and has seen 2.18 million shares traded in the recent trading session. The company, currently valued at $1.08B, closed the recent trade at $20.81 per share which meant it lost -$5.11 on the day or -19.72% during that session. The SGH stock price is -44.11% off its 52-week high price of $29.99 and 39.16% above the 52-week low of $12.66. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.76 million shares traded. The 3-month trading volume is 1.04 million shares.
SMART Global Holdings Inc (NASDAQ:SGH) trade information
Sporting -19.72% in the red today, the stock has traded in the red over the last five days, when the SGH stock price touched $20.81 or saw a rise of 22.0%. Year-to-date, SMART Global Holdings Inc shares have moved 9.92%, while the 5-day performance has seen it change -20.03%. Over the past 30 days, the shares of SMART Global Holdings Inc (NASDAQ:SGH) have changed -9.59%. Short interest in the company has seen 2.84 million shares shorted with days to cover at 2.75.
SMART Global Holdings Inc (SGH) estimates and forecasts
Figures show that SMART Global Holdings Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -13.52% over the past 6 months, with this year growth rate of -50.79%, compared to 4.00% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -57.60% and 8.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be -16.60%.
5 analysts offering their estimates for the company have set an average revenue estimate of $307.86 million for the current quarter. 5 have an estimated revenue figure of $334.83 million for the next quarter concluding in Aug 2024.
Earnings growth for 2024 is a modest -52.54% while over the next 5 years, the company’s earnings are expected to decrease by -11.99%.
SGH Dividends
SMART Global Holdings Inc is expected to release its next earnings report between June 27 and July 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
SMART Global Holdings Inc (NASDAQ:SGH)’s Major holders
Insiders own 1.97% of the company shares, while shares held by institutions stand at 106.89% with a share float percentage of 109.04%. Investors are also buoyed by the number of investors in a company, with SMART Global Holdings Inc having a total of 269 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 7.91 million shares worth more than $229.61 million. As of Jun 29, 2023, Blackrock Inc. held 15.81% of shares outstanding.
The other major institutional holder is Ameriprise Financial, Inc., with the holding of over 6.47 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $187.68 million and represent 12.92% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Columbia Fds Ser Tr II-Columbia Seligman Technology & Information Fund. As of Sep 29, 2023, the former fund manager holds about 6.75% shares in the company for having 3.38 million shares of worth $82.31 million while later fund manager owns 3.15 million shares of worth $71.16 million as of May 30, 2023, which makes it owner of about 6.29% of company’s outstanding stock.
