As of Wednesday close, Inari Medical Inc.’s (NASDAQ:NARI) stock was down -$3.39, moving down -4.96 percent to $64.94. The average number of shares traded per day over the past five days has been 806,620 shares. 3 times new highs have been achieved over the past 5 days, with a $1.96 gain in that time frame. In the last twenty days, the average volume was 949,070, while in the previous 50 days, it was 854,966.
Since last month, NARI stock rose 12.12%. Shares of the company fell to $54.44 on 08/02/23, the lowest level in the past month. A 52-week high of $83.84 was reached on 08/14/23 after having rallying from a 52-week low of $52.59. Since the beginning of this year, NARI’s stock price has risen by 2.17% or $1.38, and marked a new high 6 times. However, the stock has declined by -22.54% since its 52-week high.
NARI stock investors should be aware that Inari Medical Inc. (NARI) stock had its last reported insider trading activity 3 days ago on Aug 14. Hill, Mitch C., the Chief Financial Officer of the company, disposed of 6,500 shares for $70.47 on Aug 14. It resulted in a $458,053 divestment by the insider. Hoffman William sold 25,000 shares at an average price of $57.08 on Jul 17. The insider now owns 1,073,055 shares following the transaction. On Jul 12, Chief Financial Officer Hill, Mitch C. sold 6,500 shares at $56.24 apiece. The transaction was valued at $365,540.
Valuation Metrics
The stock’s beta is 0.95. Besides these, the trailing price-to-sales (P/S) ratio of 8.29, the price-to-book (PB) ratio of 8.52.
Financial Health
In the three months ended June 29, Inari Medical Inc.’s quick ratio stood at 7.00, while its current ratio was 7.60, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 88.20% percent. In the year ended June 29, EBITDA margin amounted to -5.34%, whereas operating margins totaled -5.10%. Based on annual data, NARI earned $338.96 million in gross profit and brought in $383.47 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -7.50%. Return on equity (ROE) for the past 12 months was -3.80%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NARI’s revenue rose 22.07% to $116.17 million during the quarter, while net income inched up to $119.01 million. While analysts expected Inari Medical Inc. to report -$0.13 quarterly earnings, the actual figure was $0.04 per share, beating the consensus estimate by 130.80%. During the quarter, the company generated -$3.66 million in EBITDA. The liabilities of Inari Medical Inc. were 89.32 million at the end of its most recent quarter ended June 29, and its total debt was $32.67 million. The value of shareholders’ equity is $57.35 million.
Technical Picture
This quick technical analysis looks at Inari Medical Inc.’s (NARI) price momentum. With a historical volatility rate of 68.37%, the RSI 9-day stood at 52.78% on 16 August.
With respect to its five-day moving average, the current Inari Medical Inc. price is up by +3.11% percent or $1.96. At present, NARI shares trade +15.22% above its 20-day simple moving average and +5.23% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.84% above its SMA50 and -14.28% below its SMA200.
Stochastic coefficient K was 79.69% and Stochastic coefficient D was 88.93%, while ATR was 3.46. Given the Stochastic reading of 60.31% for the 14-day period, the RSI (14) reading has been calculated as 54.43%. As of today, the MACD Oscillator reading stands at 2.28, while the 14-day reading stands at 4.79.
Analyst Ratings
Robert W. Baird launched its rating on Inari Medical Inc. (NASDAQ: NARI) to an Outperform in a note to investors on July 19, 2023. Inari Medical Inc. (NARI) has been rated Buy by analysts. According to 0 brokerage firms, NARI is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Inari Medical Inc. stock as buy, with 8 recommending it as overweight.
With a median target price of $84.50, the current consensus forecast for the stock is $65.00 – $100.00. Based on these forecasts, analysts predict Inari Medical Inc. (NARI) will achieve an average price target of $85.70.
