Navitas Semiconductor Corporation (NASDAQ:NVTS) traded with a subtraction of -$0.36 to $5.01 on Thursday, a downside of -6.80 percent. An average of 928,055 shares of common stock have been traded in the last five days. There was a fall of -$0.93 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 1,270,769 shares traded, while the 50-day average volume stands at 1,276,793.
NVTS stock has decreased by -3.24% in the last month. The company shares reached their 1-month lowest point of $4.93 on 09/06/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $3.51 and a high of $22.19 in 52 weeks. It has reached a new high 1 time so far this year and lost -68.43% or -$12.02 in price. In spite of this, the price is down -77.44% from the 52-week high.
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The quick ratio of Navitas Semiconductor Corporation for the three months ended June 29 was 16.20, and the current ratio was 17.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.02 for the quarter ending June 29. Its gross profit as reported stood at $10.69 million compared to revenue of $23.74 million.
For the three-month period that ended June 29, Navitas Semiconductor Corporation had $2.12 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $33.84 million in the quarter, while revenues of $79.79 million were grew 95.69%. The analyst consensus anticipated Navitas Semiconductor Corporation’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be -$0.07, a 22.20% surprise. For the quarter, EBITDA amounted to -$19.7 million. Shareholders own equity worth $125.7 million.
From a technical analysis perspective, let’s take a brief look at Navitas Semiconductor Corporation (NVTS) price momentum. RSI 9-day as of the close on 21 September was 34.37%, suggesting the stock is Neutral, with historical volatility in this time frame at 56.58%.
As of today, NVTS’s price is $5.40 -15.71% or -$0.93 from its 5-day moving average. NVTS is currently trading -11.99% lower than its 20-day SMA and -27.26% lower than its 100-day SMA. However, the stock’s current price level is +35.23% above the SMA50 and -71.40% below the SMA200.
The stochastic %K and %D were 31.76% and 40.45%, respectively, and the average true range (ATR) was 0.42. With the 14-day stochastic at 5.66% and the average true range at 0.46, the RSI (14) stands at 41.13%. The stock has reached -0.27 on the 9-day MACD Oscillator while the 14-day reading was at -0.25.
Rosenblatt launched coverage on Navitas Semiconductor Corporation (NASDAQ: NVTS) in its analyst report released on February 24, 2022. The firm assigned the stock a Buy rating. The consensus rating for Navitas Semiconductor Corporation (NVTS) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NVTS, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 6 others rate it as a “buy”.
What is NVTS’s price target for the next 12 months?
Analysts predict a range of price targets between $8.00 and $14.00, with a median target of $9.00. Taking a look at these predictions, the average price target given by analysts for Navitas Semiconductor Corporation (NVTS) stock is $10.00.