EQRx Inc. (NASDAQ:EQRX) saw a downside of -0.45% to close Monday at $2.22 after subtracting -$0.01 on the day. The 5-day average trading volume is 31,531,480 shares of the company’s common stock. It has gained $2.28 in the past week and touched a new high 4 times within the past 5 days. An average of 9,002,095 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,009,148.
EQRX’s 1-month performance is 16.23% or $0.31 on its low of $1.64 reached on 07/27/23. The company’s shares have touched a 52-week low of $1.58 and high of $6.05, with the stock’s rally to the 52-week high happening on 01/06/23. YTD, EQRX has lost -9.76% or -$0.24 and has reached a new high 4 times. However, the current price is down -63.31% from the 52-week high price.
Valuation Metrics
EQRX stock has a beta of 0.49. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 0.81.
EQRx Inc.’s quick ratio for the period ended March 30 was 22.60, with the current ratio over the same period at 22.60.
Earnings Surprise
For the quarterly period ending March 30 this year, EQRx Inc.’s cash and short-term investments amounted to $957.58 million against total debt of $3.22 million. Net income grew 124.26% to -$82.55 million, while revenue of -$21.49 million was 73.97% off the previous quarter. Analysts expected EQRX to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.17, representing a -13.30% surprise. EQRX stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 69.64 million, with total debt at $3.22 million. Shareholders hold equity totaling $487.36 million.
Let’s look briefly at EQRx Inc. (EQRX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 70.12% to suggest the stock is trending Overbought, with historical volatility in this time period at 100.44%.
The stock’s 5-day moving average is $2.17, reflecting a +29.82% or $0.51 change from its current price. EQRX is currently trading +10.45% above its 20-day SMA, +4.72% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +29.07% and SMA200 by-59.64%.
Stochastic %K and %D was 91.34% and 86.56% and the average true range (ATR) pointed at 0.14. The RSI (14) points at 65.19%, while the 14-day stochastic is at 90.63% with the period’s ATR at 0.14. The stock’s 9-day MACD Oscillator is pointing at 0.25 and 0.27 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for EQRx Inc. (NASDAQ: EQRX), JP Morgan downgraded it to an Underweight rating. They previously had a Neutral rating on the stock. Analysts offering their rating for EQRX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate EQRX as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is EQRX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.10 and a high of $2.10, with their median price target at $2.10. Looking at these predictions, the average price target given by analysts is for EQRx Inc. (EQRX) stock is $2.10.
