Latch Inc. (LTCH): Here Are Some Research Recommendations

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Latch Inc. (NASDAQ:LTCH) finished Wednesday with a subtraction of -$0.12 to close at $1.01, a downside of -10.62 percent. An average of 2,852,080 shares of common stock have been traded in the last five days. There was a fall of -$0.1900 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 2,104,525 shares traded, while the 50-day average volume stands at 1,608,124.

LTCH stock has decreased by -9.82% in the last month. The company shares reached their 1-month lowest point of $0.8602 on 08/29/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $0.86 and a high of $14.16 in 52 weeks. It has reached a new high 1 time so far this year and lost -86.66% or -$6.5600 in price. In spite of this, the price is down -92.87% from the 52-week high.


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Valuation Metrics

Latch Inc. (LTCH) has a trailing price-to-sales (P/S) ratio at 3.02, the price-to-book (PB) ratio at 0.42.

Financial Health

The quick ratio of Latch Inc. for the three months ended March 30 was 7.50, and the current ratio was 8.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.01 for the quarter ending March 30. Its gross profit as reported stood at -$2.68 million compared to revenue of $41.36 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Latch Inc.’s return on assets was -37.00%.

Earnings Surprise

For the three-month period that ended March 30, Latch Inc. had $172.99 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$44.23 million in the quarter, while revenues of -$82.92 million were grew 79.45%. The analyst consensus anticipated Latch Inc.’s latest quarter earnings to come in at -$0.32 per share, but it turned out to be -$0.36, a -12.50% surprise. For the quarter, EBITDA amounted to -$49.11 million. Shareholders own equity worth $143.62 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Latch Inc. (LTCH) price momentum. RSI 9-day as of the close on 21 September was 37.67%, suggesting the stock is Neutral, with historical volatility in this time frame at 103.76%.

As of today, LTCH’s price is $1.1820 -15.83% or -$0.1900 from its 5-day moving average. LTCH is currently trading -9.82% lower than its 20-day SMA and -70.55% lower than its 100-day SMA. However, the stock’s current price level is -19.20% below the SMA50 and -85.93% below the SMA200.

The stochastic %K and %D were 37.35% and 55.10%, respectively, and the average true range (ATR) was 0.1501. With the 14-day stochastic at 16.67% and the average true range at 0.1426, the RSI (14) stands at 41.96%. The stock has reached -0.1183 on the 9-day MACD Oscillator while the 14-day reading was at -0.0782.

Analyst Ratings

Keefe Bruyette downgraded Latch Inc. (NASDAQ: LTCH) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for Latch Inc. (LTCH) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell LTCH, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

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

Analysts predict a range of price targets between $1.00 and $3.00, with a median target of $1.27. Taking a look at these predictions, the average price target given by analysts for Latch Inc. (LTCH) stock is $1.64.

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