The stock of Navitas Semiconductor Corporation (NASDAQ:NVTS) decreased by -$0.24 on Tuesday to finish at $8.18, down -2.85 percent. The last five days have seen an average of 2,184,140 shares of common stock traded. 34 times new highs were reached in the current year, with a gain of $4.67. The average number of shares traded over the last 20 days was 2,453,770, while the average volume over the last 50 days totaled 2,234,566.
NVTS stock dropped -22.68% since last month. On 08/17/23, the company’s shares reached a one-month low of $7.39. 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 133.05% or $4.67 this year, reaching a new high 34 times. Still, the stock price is down -26.74% from the 52-week high.
Insider Transactions
NVTS stock investors should be aware that Navitas Semiconductor Corporation (NVTS) stock had its last reported insider trading activity 5 days ago on Aug 25. On Aug 25, Sr VP, CFO and Treasurer SHELTON RON sold 40,000 shares at $8.31 each. This transaction resulted in the insider making $332,400. On Aug 25, Wunderlich Gary Kent JR sold 24,935 shares at a price of US$8.34. After the transaction, the insider now owns 0 shares. Director Wunderlich Gary Kent JR had earlier sold 25,000 shares on Aug 24 for $8.50 a share. The transaction was completed for $212,500.
Valuation Metrics
Beta for the stock is 2.43. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 25.69, the price-to-book (PB) ratio of 3.53.
Financial Health
For the three months ended June 29, Navitas Semiconductor Corporation’s quick ratio was 5.50, while its current ratio was 6.00, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 34.00% 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 -35.90%. 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 -43.10%.
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 $18.06 million, while revenues rose by 52.33% to $13.36 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 -$21.93 million for the quarter. At the end of Navitas Semiconductor Corporation’s most recent quarter ended June 29, its liabilities totaled 115.74 million, while its total debt was $6.32 million. Equity owned by shareholders amounts to $173.72 million.
Technical Picture
Here’s a quick look at Navitas Semiconductor Corporation’s (NVTS) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 39.58%, suggesting the stock is Neutral, with a 54.63% historical volatility rate.
The stochastic %K and %D were 35.92% and 37.60% respectively, while the average true range (ATR) was 0.59. Based on the 14-day stochastic reading of 29.15%, the RSI (14) reading is 40.90%. On the 9-day MACD Oscillator, the stock is at 0.08, and the 14-day reading is at -0.04.
Analyst Ratings
In its analyst report released on Aug-30-23, Morgan Stanley began covering Navitas Semiconductor Corporation (NASDAQ: NVTS). The stock was rated as an Equal-weight 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 $9.20 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 $11.65.
