Dave Inc. (NASDAQ: DAVE) stock fell -7.56% on Wednesday to $0.40 against a previous-day closing price of $0.44. With 1.63 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.14 million shares. The 52-week range on DAVE shows that it touched its highest point at $15.35 and its lowest point at $0.39 during that stretch.
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 DAVE was down-trending over the past week, with a drop of -11.32%, but this was down by -20.15% over a month. Three-month performance dropped to -46.33% while six-month performance fell -95.16%. The stock lost -95.94% in the past year, while it has lost -96.07% so far this year. A look at the trailing 12-month EPS for DAVE yields -0.22 with Next year EPS estimates of -0.26. For the next quarter, that number is -0.06. This implies an EPS growth rate of -187.40% for this year and 10.30% for next year.
Float and Shares Shorts:
At present, 371.54 million DAVE shares are outstanding with a float of 198.08 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.46 million, which was 1.46% higher than short shares on Jun 14, 2022. In addition to Mr. Jason Wilk as the firm’s Co-Founder, CEO, Pres & Chairman, Mr. Kyle Beilman serves as its CFO & Sec.
Through their ownership of 14.42% of DAVE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.46% of DAVE, in contrast to 30.10% held by mutual funds. Shares owned by individuals account for 1.53%. As the largest shareholder in DAVE with 1.94% of the stake, Tiger Global Management LLC holds 6,322,616 shares worth 6,322,616. A second-largest stockholder of DAVE, Corbin Capital Partners LP, holds 4,647,411 shares, controlling over 1.43% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in DAVE, holding 2,326,003 shares or 0.71% stake. With a 0.69% stake in DAVE, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 2,249,990 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.27% of DAVE stock, is the second-largest Mutual Fund holder. It holds 868,333 shares valued at 0.45 million. Schwab US Small Cap ETF holds 0.20% of the stake in DAVE, owning 646,646 shares worth 0.33 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DAVE since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DAVE analysts setting a high price target of $0.55 and a low target of $0.55, the average target price over the next 12 months is $0.55. Based on these targets, DAVE could surge 37.5% to reach the target high and rise by 37.5% to reach the target low. Reaching the average price target will result in a growth of 37.5% 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. DAVE will report FY 2022 earnings on 03/20/2023. Analysts have provided yearly estimates in a range of -$0.29 being high and -$0.29 being low. For DAVE, this leads to a yearly average estimate of -$0.29. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.06.
Summary of Insider Activity:
Insiders traded DAVE stock several times over the past three months with 1 Buys and 6 Sells. In these transactions, 503,697 shares were bought while 4,932,621 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 124,713,370 while 4,932,621 shares were sold.