Currently, there are 186.79M common shares owned by the public and among those 114.11M shares have been available to trade.
The company’s stock has a 5-day price change of 5.46% and 74.18% over the past three months. NVTS shares are trading 19.05% year to date (YTD), with the 12-month market performance down to -40.14% lower. It has a 12-month low price of $1.75 and touched a high of $7.40 over the same period. NVTS has an average intraday trading volume of 5.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.03%, 44.04%, and 23.29% respectively.
Institutional ownership of Navitas Semiconductor Corp (NASDAQ: NVTS) shares accounts for 37.15% of the company’s 186.79M shares outstanding.
It has a market capitalization of $907.62M and a beta (3y monthly) value of 2.22. The earnings-per-share (ttm) stands at -$0.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.01% over the week and 14.02% over the month.
Earnings per share for the fiscal year are expected to decrease by -24.74%, and 15.71% over the next financial year.
Looking at the support for the NVTS, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on May 13, 2024, with the firm’s price target at $10-$4. Morgan Stanley was of a view on August 29, 2023 that the stock is Equal-Weight, while Rosenblatt gave the stock Buy rating on February 24, 2022, issuing a price target of $15. Needham on their part issued Buy rating on February 17, 2022.
