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.
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.
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.
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.