As of Friday close, Blend Labs Inc.’s (NYSE:BLND) stock was down -$0.05, moving down -4.00 percent to $1.20. The average number of shares traded per day over the past five days has been 775,040 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.3000 fall in that time frame. In the last twenty days, the average volume was 974,120, while in the previous 50 days, it was 1,650,320.
Since last month, BLND stock retreated -7.69%. Shares of the company fell to $1.1535 on 08/17/23, the lowest level in the past month. A 52-week high of $3.47 was reached on 02/06/23 after having rallying from a 52-week low of $0.53. Since the beginning of this year, BLND’s stock price has dropped by -16.67% or -$0.2400, and marked a new high 8 times. However, the stock has declined by -65.42% since its 52-week high.
BLND stock investors should be aware that Blend Labs Inc. (BLND) stock had its last reported insider trading activity 19 days ago on Jul 31. Ghamsari Nima, the Head of Blend of the company, disposed of 114,504 shares for $1.32 on Jul 31. It resulted in a $151,214 divestment by the insider. Ghamsari Nima sold 153,531 shares at an average price of $0.96 on Jun 30. The insider now owns 0 shares following the transaction. On May 31, Head of Blend Ghamsari Nima sold 151,316 shares at $0.95 apiece. The transaction was valued at $144,461.
Valuation Metrics
The stock’s beta is 0.54. Besides these, the trailing price-to-sales (P/S) ratio of 1.39, the price-to-book (PB) ratio of 7.10.
Financial Health
In the three months ended June 30, Blend Labs Inc.’s quick ratio stood at 8.90, while its current ratio was 8.90, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 38.10% percent. Based on annual data, BLND earned $89.65 million in gross profit and brought in $235.2 million in revenue.
In Blend Labs Inc.’s quarter-end financial report for June 30, it reported total debt of $218.24 million against cash and short-term investments of $230.62 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BLND’s revenue fell -54.25% to $37.34 million during the quarter, while net income inched up to $42.49 million. While analysts expected Blend Labs Inc. to report -$0.13 quarterly earnings, the actual figure was -$0.09 per share, beating the consensus estimate by 30.80%. During the quarter, the company generated -$33.77 million in EBITDA. The liabilities of Blend Labs Inc. were 309.23 million at the end of its most recent quarter ended June 30, and its total debt was $231.7 million. The value of shareholders’ equity is $245.89 million.
Technical Picture
This quick technical analysis looks at Blend Labs Inc.’s (BLND) price momentum. With a historical volatility rate of 113.52%, the RSI 9-day stood at 40.48% on 18 August.
With respect to its five-day moving average, the current Blend Labs Inc. price is down by -20.00% percent or -$0.3000. At present, BLND shares trade -7.69% below its 20-day simple moving average and +36.36% percent above its 100-day simple moving average. However, the stock is currently trading approximately +22.40% above its SMA50 and -52.19% below its SMA200.
Stochastic coefficient K was 12.97% and Stochastic coefficient D was 19.46%, while ATR was 0.1486. Given the Stochastic reading of 8.36% for the 14-day period, the RSI (14) reading has been calculated as 45.86%. As of today, the MACD Oscillator reading stands at -0.0778, while the 14-day reading stands at -0.0810.
Analyst Ratings
Keefe Bruyette upgraded its rating on Blend Labs Inc. (NYSE: BLND) to a Mkt perform in a note to investors on November 14, 2022. The analysts firm previously had an Underperform rating on the stock.Blend Labs Inc. (BLND) has been rated Hold by analysts. According to 0 brokerage firms, BLND is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Blend Labs Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $1.50, the current consensus forecast for the stock is $1.00 – $2.00. Based on these forecasts, analysts predict Blend Labs Inc. (BLND) will achieve an average price target of $1.49.
