Take off with Dave Inc. (DAVE): Get ready for trading

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.

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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 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.


Institutional Ownership:

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.

Analysts Ratings:

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.

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