In the last trading session, 2.45 million shares of the Navitas Semiconductor Corp (NASDAQ:NVTS) were traded, and its beta was 2.25. Most recently the company’s share price was $1.78, and it changed around -$0.1 or -5.32% from the last close, which brings the market valuation of the company to $314.81M. NVTS currently trades at a discount to its 52-week high of $8.44, offering almost -374.16% off that amount. The share price’s 52-week low was $1.77, which indicates that the current value has risen by an impressive 0.56% since then. We note from Navitas Semiconductor Corp’s average daily trading volume that its 10-day average is 4.13 million shares, with the 3-month average coming to 2.69 million.
Navitas Semiconductor Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.78. If we narrow it down even further, the data shows that 0 out of 10 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 3 recommended NVTS as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Navitas Semiconductor Corp is expected to report earnings per share of -0.06 for the current quarter.
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Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Instantly NVTS has showed a red trend with a performance of -5.32% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.1850 on recent trading dayincreased the stock’s daily price by 18.54%. The company’s shares are currently down -77.94% year-to-date, but still down -17.59% over the last five days. On the other hand, Navitas Semiconductor Corp (NASDAQ:NVTS) is -30.47% down in the 30-day period. We can see from the shorts that 27.84 million shares have been sold at a short interest cover period of 13.63 day(s).
The consensus price target as assigned by Wall Street analysts is $6.5, which translates to bulls needing to increase their stock price by 72.62% from its current value. Analyst projections state that NVTS is forecast to be at a low of $4 and a high of $13.
Navitas Semiconductor Corp (NVTS) estimates and forecasts
Navitas Semiconductor Corp 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 fallen -53.40 percent over the past six months and at a -25.00% annual growth rate that is well below the industry average of -3.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -52.85% in revenue this quarter, and will report a decrease of -12.00% in the next quarter. The year-over-year growth rate is expected to be 6.23%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 19.03M in revenue for the current quarter. 7 analysts expect Navitas Semiconductor Corp to make 15.8M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 26.06M and 23.18M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -26.98%. Forecasts for the next quarter put sales growth at -31.81%.
Navitas Semiconductor Corp earnings are expected to increase by -24.74% in 2024, but the outlook is positive 20.00% per year for the next five years.
NVTS Dividends
Navitas Semiconductor Corp’s next quarterly earnings report is expected to be released in December.
Navitas Semiconductor Corp (NASDAQ:NVTS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 25.78% of Navitas Semiconductor Corp shares, and 42.04% of them are in the hands of institutional investors. The stock currently has a share float of 56.64%. Navitas Semiconductor Corp stock is held by 193.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 5.5059% of the shares, which is about 9.9 million shares worth $38.9 million.
VANGUARD GROUP INC, with 5.3884% or 9.69 million shares worth $38.07 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
