The stock of Navitas Semiconductor Corporation (NASDAQ:NVTS) increased by $0.4 on Tuesday to finish at $9.01, up 4.65 percent. The last five days have seen an average of 3,490,140 shares of common stock traded. 34 times new highs were reached in the current year, with a gain of $5.50. The average number of shares traded over the last 20 days was 1,917,240, while the average volume over the last 50 days totaled 2,179,958.
NVTS stock dropped -13.28% since last month. On 08/14/23, the company’s shares reached a one-month low of $8.15. The stock touched a high of $11.16 on 07/05/23, after rallying from a low of $3.11 in 52 weeks. The price of NVTS stock has risen by 156.70% or $5.50 this year, reaching a new high 34 times. Still, the stock price is down -19.30% from the 52-week high.
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Insider Transactions
NVTS stock investors should be aware that Navitas Semiconductor Corporation (NVTS) stock had its last reported insider trading activity 13 days ago on Aug 03. On Aug 03, President & CEO Sheridan Eugene sold 17,858 shares at $9.91 each. This transaction resulted in the insider making $176,973. On Aug 02, Sheridan Eugene sold 23,166 shares at a price of US$10.04. After the transaction, the insider now owns 879,386 shares. President & CEO Sheridan Eugene had earlier sold 24,358 shares on Jul 06 for $10.07 a share. The transaction was completed for $245,285.
Valuation Metrics
Beta for the stock is 2.41. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 37.19, the price-to-book (PB) ratio of 4.10.
Financial Health
For the three months ended June 29, Navitas Semiconductor Corporation’s quick ratio was 4.70, while its current ratio was 5.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 32.50% percent. Based on annual data, it had gross profit of $11.95 million and revenue of $37.94 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NVTS’s return on assets (ROA) during the last 12 months has been -17.20%. There was a -26.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -20.10%.
Earnings Surprise
According to Navitas Semiconductor Corporation’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 $13.36 million, while revenues rose by 49.55% to $12.35 million. It was predicted that Navitas Semiconductor Corporation’s quarterly earnings would be -$0.05, but it ended up being -$0.07, beating the consensus by 28.60%. EBITDA was -$30.42 million for the quarter. At the end of Navitas Semiconductor Corporation’s most recent quarter ended June 29, its liabilities totaled 71.36 million, while its total debt was $6.72 million. Equity owned by shareholders amounts to $160.93 million.
Technical Picture
Here’s a quick look at Navitas Semiconductor Corporation’s (NVTS) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 43.38%, suggesting the stock is Neutral, with a 52.36% historical volatility rate.
The stochastic %K and %D were 16.81% and 10.19% respectively, while the average true range (ATR) was 0.65. Based on the 14-day stochastic reading of 31.27%, the RSI (14) reading is 44.34%. On the 9-day MACD Oscillator, the stock is at -0.44, and the 14-day reading is at -0.85.
Analyst Ratings
In its analyst report released on February 24, 2022, Rosenblatt began covering Navitas Semiconductor Corporation (NASDAQ: NVTS). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Navitas Semiconductor Corporation (NVTS) an Buy rating. NVTS is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 7 others recommend it as a buy.
What is NVTS’s price target for the next 12 months?
The current consensus forecast for the stock is between $10.00 and $14.00, with a median target price of $12.00. In analyzing these forecasts, the average price target given by analysts for Navitas Semiconductor Corporation (NVTS) is $11.75.
