Investors in cash trouble should check out Latch Inc. (LTCH)

Latch Inc. (NASDAQ: LTCH) stock fell 0.00% on Friday to $1.03 against a previous-day closing price of $1.03. With 2.82 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.26 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $1.0800 whereas the lowest price it dropped to was $0.9900. The 52-week range on LTCH shows that it touched its highest point at $14.83 and its lowest point at $1.02 during that stretch. It currently has a 1-year price target of $4.02.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LTCH was down-trending over the past week, with a drop of -18.25%, but this was down by -18.90% over a month. Three-month performance dropped to -70.14% while six-month performance fell -83.33%. The stock lost -92.44% in the past year, while it has lost -86.39% so far this year. A look at the trailing 12-month EPS for LTCH yields -1.72 with Next year EPS estimates of -1.09. For the next quarter, that number is -0.31. This implies an EPS growth rate of -875.90% for this year and 10.40% for next year.

Float and Shares Shorts:

At present, 141.97 million LTCH shares are outstanding with a float of 129.37 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.22 million, which was 3.60% higher than short shares on Jun 14, 2022. In addition to Mr. Luke Andrew Schoenfelder as the firm’s Co-Founder, CEO & Chairman, Mr. Michael Brian Jones serves as its Co-Founder & Chief Technology Officer.

Institutional Ownership:

Through their ownership of 64.87% of LTCH’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 29.45% of LTCH, in contrast to 28.90% held by mutual funds. Shares owned by individuals account for 12.59%. As the largest shareholder in LTCH with 8.00% of the stake, Goldman Sachs & Co. LLC holds 11,487,951 shares worth 11,487,951. A second-largest stockholder of LTCH, The Vanguard Group, Inc., holds 8,547,968 shares, controlling over 5.95% of the firm’s shares. MFN Partners Management LP is the third largest shareholder in LTCH, holding 6,000,000 shares or 4.18% stake. With a 1.96% stake in LTCH, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,820,819 shares are owned by the mutual fund manager. The BlackRock Global Funds – Next Gen, which owns about 1.23% of LTCH stock, is the second-largest Mutual Fund holder. It holds 1,766,245 shares valued at 2.01 million. iShares Russell 2000 ETF holds 1.09% of the stake in LTCH, owning 1,561,594 shares worth 1.78 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LTCH since 11 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LTCH analysts setting a high price target of $6.00 and a low target of $1.15, the average target price over the next 12 months is $3.56. Based on these targets, LTCH could surge 482.52% to reach the target high and rise by 11.65% to reach the target low. Reaching the average price target will result in a growth of 245.63% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LTCH will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of -$1.09 being high and -$1.71 being low. For LTCH, this leads to a yearly average estimate of -$1.32. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Latch Inc. surprised analysts by $0.00 when it reported -$0.31 EPS against a consensus estimate of -$0.31. The surprise factor in the prior quarter was -$0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.27 and the low estimate is -$0.37. The average estimate for the next quarter is thus -$0.31.

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