Navitas Semiconductor Corp (NASDAQ:NVTS) finished Friday with an addition of $0.13 to close at $6.95, an upside of 1.91 percent. An average of 1,635,960 shares of common stock have been traded in the last five days. There was a fall of -$0.01 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 1,907,815 shares traded, while the 50-day average volume stands at 2,088,302.
NVTS stock has decreased by -17.65% in the last month. The company shares reached their 1-month lowest point of $6.72 on 09/27/23. With the stock rallying to its 52-week high on 07/05/23, shares of the company touched a low of $3.11 and a high of $11.16 in 52 weeks. It has reached a new high 34 times so far this year and achieved 98.01% or $3.44 in price. In spite of this, the price is down -37.75% from the 52-week high.
Insider Transactions
NVTS stock investors should be aware that Navitas Semiconductor Corp (NVTS) stock had its last reported insider trading activity 24 days ago on Sep 06. In this transaction, the insider spent $142,884. President & CEO, Sheridan Eugene, disposed of 16,866 shares at a price of $8.65 on Sep 05. The insider now owns more than $145,830 worth of shares. Prior to that, Director HENDRIX RICHARD J went on to Sale 20,000 shares at $8.85 each on Sep 01. An amount of $177,014 was transacted.
Valuation Metrics
Navitas Semiconductor Corp (NVTS) stock’s beta is 2.48. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 22.37, the price-to-book (PB) ratio at 3.15.
Financial Health
The quick ratio of Navitas Semiconductor Corp for the three months ended June 29 was 5.48, and the current ratio was 6.01, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.02 for the quarter ending June 29. Its gross profit as reported stood at $11.95 million compared to revenue of $37.94 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$58.53 million in the quarter, while revenues of -$61.85 million were grew 157.82%. The analyst consensus anticipated Navitas Semiconductor Corp’s latest quarter earnings to come in at -$0.07 per share, but it turned out to be -$0.05, a 28.60% surprise. For the quarter, EBITDA amounted to -$21.93 million. Shareholders own equity worth $173.72 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Navitas Semiconductor Corp (NVTS) price momentum. RSI 9-day as of the close on 29 September was 33.46%, suggesting the stock is Neutral, with historical volatility in this time frame at 41.47%.
As of today, NVTS’s price is $6.89 -0.14% or -$0.01 from its 5-day moving average. NVTS is currently trading -21.29% lower than its 20-day SMA and +7.42% higher than its 100-day SMA. However, the stock’s current price level is -27.30% below the SMA50 and +68.28% above the SMA200.
The stochastic %K and %D were 9.47% and 7.53%, respectively, and the average true range (ATR) was 0.35. With the 14-day stochastic at 14.02% and the average true range at 0.38, the RSI (14) stands at 34.23%. The stock has reached -0.11 on the 9-day MACD Oscillator while the 14-day reading was at -0.39.
Analyst Ratings
Morgan Stanley launched coverage on Navitas Semiconductor Corp (NASDAQ: NVTS) in its analyst report released on August 29, 2023. The firm assigned the stock an Equal-weight rating. The consensus rating for Navitas Semiconductor Corp (NVTS) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell NVTS, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.
What is NVTS’s price target for the next 12 months?
Analysts predict a range of price targets between $9.20 and $14.00, with a median target of $12.00. Taking a look at these predictions, the average price target given by analysts for Navitas Semiconductor Corp (NVTS) stock is $11.65.
