Eargo Inc. (EAR): Technical Analysis Suggests You Should Hold

The stock of Eargo Inc. (NASDAQ:EAR) decreased by decreased by -$2.43 on Friday to finish at $7.78, down -23.80 percent. The last five days have seen an average of 4,887,880 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$37.04. The average number of shares traded over the last 20 days was 3,145,670, while the average volume over the last 50 days totaled 3,095,124.

EAR stock appreciated 13.41% since last month. On 10/04/21, the company’s shares reached a one-month low of $6.20. The stock touched a high of $76.75 on 02/11/21, after rallying from a low of $6.20 in 52 weeks. The price of EAR stock has declined by -82.64% or -$37.04 this year, reaching a new high 14 times. Still, the stock price is down -89.86% from the 52-week high.


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Insider Transactions

There have been 41 days since Eargo Inc. (EAR) last reported insider trading activity on Sep 14. On Sep 14, Director Richardson Nina sold 3,000 shares at $20.32 each. This transaction resulted in the insider making $60,960. On Jun 29, Laponis Adam sold 10,000 shares at a price of US$38.43. After the transaction, the insider now owns 60,568 shares. 10% Owner Makhzoumi Mohamad had earlier sold 283 shares on May 25 for $32.41 a share. The transaction was completed for $9,172.

For the three months ended June 29, Eargo Inc.’s quick ratio was 8.10, while its current ratio was 8.20, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 71.00% percent. Eargo Inc.’s EBITDA margin for the year ended June 29 was -47.23%, whereas its operating margin stood at -60.40% for the same period. Based on annual data, it had gross profit of $47.28 million and revenue of $69.15 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EAR’s return on assets (ROA) during the last 12 months has been -23.50%. There was a -17.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -46.60%. ROE has averaged 3.96 in the past year for the broader industry.

Earnings Surprise

According to Eargo Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $22.88 million, while revenues rose by 100.0% to $22.05 million. It was predicted that Eargo Inc.’s quarterly earnings would be -$0.36, but it ended up being -$0.26, beating the consensus by -38.50%. EBITDA was -$18.37 million for the quarter. At the end of Eargo Inc.’s most recent quarter ended June 29, its liabilities totaled 39.63 million, while its total debt was $16.08 million. Equity owned by shareholders amounts to $39.16 million.

Technical Picture

Here’s a quick look at Eargo Inc.’s (EAR) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 44.57%, suggesting the stock is Neutral, with a 221.34% historical volatility rate.

The stochastic %K and %D were 70.36% and 73.18% respectively, while the average true range (ATR) was 1.18. Based on the 14-day stochastic reading of 34.93%, the RSI (14) reading is 37.82%. On the 9-day MACD Oscillator, the stock is at 0.95, and the 14-day reading is at 1.30.

Analyst Ratings

Eargo Inc. (NASDAQ: EAR) was downgraded by William Blair to a a Mkt perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Eargo Inc. (EAR) an Underweight rating. EAR is a stock that is recommended for selling by 1 brokerage firm, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.

What is EAR’s price target for the next 12 months?

The current consensus forecast for the stock is between $10.00 and $11.00, with a median target price of $10.50. In analyzing these forecasts, the average price target given by analysts for Eargo Inc. (EAR) is $10.50.

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