Navitas Semiconductor Corporation (NASDAQ:NVTS) saw an upside of 0.83% to close Tuesday at $8.48 after adding $0.07 on the day. The 5-day average trading volume is 2,903,700 shares of the company’s common stock. It has gained $9.02 in the past week and touched a new high 1 time within the past 5 days. An average of 2,227,385 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,300,424.
NVTS’s 1-month performance is -11.02% or -$1.11 on its low of $7.39 reached on 08/17/23. The company’s shares have touched a 52-week low of $3.11 and high of $11.16, with the stock’s rally to the 52-week high happening on 07/05/23. YTD, NVTS has achieved 141.60% or $4.97 and has reached a new high 34 times. However, the current price is down -24.05% from the 52-week high price.
Insider Transactions
NVTS stock investors last saw insider trading activity on Aug 17.SHELTON RON (Sr VP, CFO and Treasurer) most recently sold 34,245 shares at $7.81 per share on Aug 17. This transaction cost the insider $267,453. President & CEO, Sheridan Eugene, sold 17,858 shares at a price of $9.91 on Aug 03. Then, on Aug 02, President & CEO Sheridan Eugene sold 23,166 shares at a price of $10.04 per share. This transaction amounted to $232,587.
Valuation Metrics
NVTS stock has a beta of 2.43. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 26.78 while the price-to-book (PB) in the most recent quarter is 3.66.
Navitas Semiconductor Corporation’s quick ratio for the period ended June 29 was 5.50, with the current ratio over the same period at 6.00.. In terms of profitability, the gross margin trailing 12 months is 34.00%. The trailing 12-month EBITDA margin is -293.31%. The firm’s gross profit as reported stood at $11.95 million against revenue of $37.94 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 157.82% to -$58.53 million, while revenue of -$61.85 million was -5.67% off the previous quarter. Analysts expected NVTS to announce -$0.07 per share in earnings in its latest quarter, but it posted -$0.05, representing a 28.60% surprise. EBITDA for the quarter stood at more than -$21.93 million. NVTS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 115.74 million, with total debt at $6.32 million. Shareholders hold equity totaling $173.72 million.
Let’s look briefly at Navitas Semiconductor Corporation (NVTS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 43.40% to suggest the stock is trending Neutral, with historical volatility in this time period at 79.77%.
The stock’s 5-day moving average is $8.17, reflecting a -5.88% or -$0.53 change from its current price. NVTS is currently trading -15.28% above its 20-day SMA, +22.90% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -8.32% and SMA200 by+107.84%.
Stochastic %K and %D was 29.03% and 19.41% and the average true range (ATR) pointed at 0.66. The RSI (14) points at 43.10%, while the 14-day stochastic is at 40.22% with the period’s ATR at 0.64. The stock’s 9-day MACD Oscillator is pointing at -0.13 and -0.48 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Navitas Semiconductor Corporation (NASDAQ: NVTS), Rosenblatt launched coverage with a Buy rating. Analysts offering their rating for NVTS stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate NVTS as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.
What is NVTS’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $10.00 and a high of $14.00, with their median price target at $12.00. Looking at these predictions, the average price target given by analysts is for Navitas Semiconductor Corporation (NVTS) stock is $11.75.
