Geode Capital Management LLC recently announced the acquisition of new stake in Movella Holdings Inc (NASDAQ:MVLA). The institutional investor has increased its shareholding in the Technology company by 3.29% to 0.39 million shares with purchase of 12324.0 shares. This fresh investment now brings its stake to 0.76% valued currently at $0.14 million. In addition, Bridgeway Capital Management LLC raised its holdings by 0.12 million to 0.12 million shares.
With over 0.45 million Movella Holdings Inc (MVLA) shares trading Friday and a closing price of $0.50 on the day, the dollar volume was approximately $0.23 million. The shares have shown a negative half year performance of -80.88% and its price on 12/22/23 gained nearly 10.47%. Currently, there are 32.50M common shares owned by the public and among those 28.09M shares have been available to trade.
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Insiders at the company have transacted a total of 24 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 15,171,071 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Movella Holdings Inc are Columbia Seligman Technology & In, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Columbia Seligman Technology & In owns 1.62 million shares of the company’s stock, all valued at over $0.58 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.27% of the shares outstanding.
However, the script later moved the day high at 0.5200, up 10.47%. The company’s stock has a 5-day price change of 35.04% and -17.88% over the past three months. MVLA shares are trading -95.02% year to date (YTD), with the 12-month market performance down to -95.01% lower. It has a 12-month low price of $0.31 and touched a high of $10.76 over the same period. MVLA has an average intraday trading volume of 187.82K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 30.64%, 14.46%, and -60.21% respectively.
Institutional ownership of Movella Holdings Inc (NASDAQ: MVLA) shares accounts for 7.63% of the company’s 32.50M shares outstanding. Mutual fund holders own 22.04%, while other institutional holders and individual stakeholders account for 5.85% and 1.87% respectively.
It has a market capitalization of $25.51M and a beta (3y monthly) value of 0.29. The earnings-per-share (ttm) stands at -$0.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 22.51% over the week and 14.86% over the month.
Analysts forecast that Movella Holdings Inc (MVLA) will achieve an EPS of -$0.1 for the current quarter, -$0.04 for the next quarter and -$0.03 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.07. Earnings per share for the fiscal year are expected to increase by 87.71%, and 79.55% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Movella Holdings Inc (MVLA) as a “Strong Buy” at a consensus score of 1.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MVLA, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on June 02, 2023, with the firm’s price target at $4.
