Blend Labs Inc. (NYSE:BLND) traded with a subtraction of -$0.06 to $1.09 on Thursday, a downside of -5.22 percent. An average of 773,011 shares of common stock have been traded in the last five days. There was a fall of -$0.1550 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 1,029,268 shares traded, while the 50-day average volume stands at 1,543,281.
BLND stock has decreased by -14.17% in the last month. The company shares reached their 1-month lowest point of $1.0850 on 08/24/23. With the stock rallying to its 52-week high on 02/06/23, shares of the company touched a low of $0.53 and a high of $3.36 in 52 weeks. It has reached a new high 8 times so far this year and lost -24.31% or -$0.3450 in price. In spite of this, the price is down -67.56% from the 52-week high.
Insider Transactions
BLND stock investors should be aware that Blend Labs Inc. (BLND) stock had its last reported insider trading activity 24 days ago on Jul 31. In this transaction, the insider spent $151,214. Head of Blend, Ghamsari Nima, disposed of 153,531 shares at a price of $0.96 on Jun 30. The insider now owns more than $147,344 worth of shares. Prior to that, Head of Blend Ghamsari Nima went on to Sale 151,316 shares at $0.95 each on May 31. An amount of $144,461 was transacted.
Valuation Metrics
Blend Labs Inc. (BLNDstock’s beta is 0.59. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.57, the price-to-book (PB) ratio at 6.41.
Financial Health
The quick ratio of Blend Labs Inc. for the three months ended June 29 was 8.90, and the current ratio was 8.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 5.28 and a total debt to equity ratio of 5.28 for the quarter ending June 29. Blend Labs Inc.’s EBITDA margin for the year ending June 29 is -113.44%. Its gross profit as reported stood at $89.65 million compared to revenue of $235.2 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Blend Labs Inc.’s return on assets was -78.70%.
Earnings Surprise
For the three-month period that ended June 29, Blend Labs Inc. had $218.24 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$42.82 million in the quarter, while revenues of -$67.47 million were shrunk -1017.19%. The analyst consensus anticipated Blend Labs Inc.’s latest quarter earnings to come in at -$0.13 per share, but it turned out to be -$0.09, a 30.80% surprise. For the quarter, EBITDA amounted to -$33.77 million. Shareholders own equity worth $245.89 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Blend Labs Inc. (BLND) price momentum. RSI 9-day as of the close on 23 August was 31.15%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.16%.
As of today, BLND’s price is $1.1690 -12.40% or -$0.1550 from its 5-day moving average. BLND is currently trading -8.75% lower than its 20-day SMA and +9.92% higher than its 100-day SMA. However, the stock’s current price level is +1.39% above the SMA50 and -46.59% below the SMA200.
The stochastic %K and %D were 6.10% and 7.61%, respectively, and the average true range (ATR) was 0.1180. With the 14-day stochastic at 1.60% and the average true range at 0.1246, the RSI (14) stands at 39.29%. The stock has reached -0.0778 on the 9-day MACD Oscillator while the 14-day reading was at -0.1185.
Analyst Ratings
Keefe Bruyette upgraded Blend Labs Inc. (NYSE: BLND) to a a Mkt perform rating in its most recent analyst report. Previously, the stock was rated as an Underperform. The consensus rating for Blend Labs Inc. (BLND) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BLND, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is BLND’s price target for the next 12 months?
Analysts predict a range of price targets between $1.00 and $2.00, with a median target of $1.50. Taking a look at these predictions, the average price target given by analysts for Blend Labs Inc. (BLND) stock is $1.49.
