Navitas Semiconductor Corp (NASDAQ:NVTS) has a beta value of 2.45 and has seen 0.55 million shares traded in the recent trading session. The company, currently valued at $548.33M, closed the recent trade at $2.99 per share which meant it lost -$0.03 on the day or -1.03% during that session. The NVTS stock price is -237.79% off its 52-week high price of $10.10 and 1.67% above the 52-week low of $2.94. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.13 million shares traded. The 3-month trading volume is 2.60 million shares.
The consensus among analysts is that Navitas Semiconductor Corp (NVTS) is Buy stock at the moment, with a recommendation rating of 1.78. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 2 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.06.
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Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Sporting -1.03% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the NVTS stock price touched $2.99 or saw a rise of 11.8%. Year-to-date, Navitas Semiconductor Corp shares have moved -62.96%, while the 5-day performance has seen it change -2.01%. Over the past 30 days, the shares of Navitas Semiconductor Corp (NASDAQ:NVTS) have changed -37.34%. Short interest in the company has seen 24.77 million shares shorted with days to cover at 10.47.
Wall Street analysts have a consensus price target for the stock at $10, which means that the shares’ value could jump 70.1% from the levels at last check today. The projected low price target is $5.0 while the price target rests at a high of $22.0. In that case, then, we find that the latest price level in today’s session is -635.79% off the targeted high while a plunge would see the stock gain -67.22% from the levels at last check today.
Navitas Semiconductor Corp (NVTS) estimates and forecasts
Figures show that Navitas Semiconductor Corp shares have underperformed across the wider relevant industry. The company’s shares have lost -55.39% over the past 6 months, with this year growth rate of -15.00%, compared to -7.30% for the industry. Revenue growth from the last financial year stood is estimated to be 13.00%.
8 analysts offering their estimates for the company have set an average revenue estimate of 21.93M for the current quarter. 8 have an estimated revenue figure of 24.07M for the next ending quarter. Year-ago sales stood 21.98M and 26.06M respectively for this quarter and the next, and analysts expect sales will shrink by -0.20% for the current quarter and 13.00% for the next.
Earnings growth for 2024 is a modest -21.39% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
Navitas Semiconductor Corp (NASDAQ:NVTS)’s Major holders
Insiders own 26.83% of the company shares, while shares held by institutions stand at 48.51% with a share float percentage of 66.30%. Investors are also buoyed by the number of investors in a company, with Navitas Semiconductor Corp having a total of 203.0 institutions that hold shares in the company. The top two institutional holders are STATE STREET CORP with over 9.68 million shares worth more than $46.17 million. As of 2024-03-31, STATE STREET CORP held 5.7304% of shares outstanding.
The other major institutional holder is CAPRICORN INVESTMENT GROUP LLC, with the holding of over 9.44 million shares as of 2024-03-31. The firm’s total holdings are worth over $45.04 million and represent 5.5898% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Mar 31, 2024, the former fund manager holds about 1.94% shares in the company for having 3.54 shares of worth $10.58 million while later fund manager owns 3.05 shares of worth $9.1 million as of Jun 30, 2024, which makes it owner of about 1.67% of company’s outstanding stock.
