Boxlight Corporation (NASDAQ: BOXL) stock jumped 1.89% on Wednesday to $0.42 against a previous-day closing price of $0.41. With 0.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.22 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $0.4300 whereas the lowest price it dropped to was $0.4099. The 52-week range on BOXL shows that it touched its highest point at $1.74 and its lowest point at $0.41 during that stretch. It currently has a 1-year price target of $2.33. Beta for the stock currently stands at 2.53.
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 BOXL was down-trending over the past week, with a drop of -9.70%, but this was down by -14.33% over a month. Three-month performance dropped to -38.57% while six-month performance fell -50.81%. The stock lost -73.93% in the past year, while it has lost -69.58% so far this year. A look at the trailing 12-month EPS for BOXL yields -0.20 with Next year EPS estimates of 0.10. For the next quarter, that number is 0.00. This implies an EPS growth rate of 36.10% for this year and 325.00% for next year.
Float and Shares Shorts:
At present, 74.12 million BOXL shares are outstanding with a float of 67.39 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.75 million, which was 1.01% higher than short shares on Sep 14, 2022. In addition to Mr. Michael Ross Pope CPA, CPA as the firm’s CEO & Chairman, Mr. Mark Starkey serves as its Pres.
Through their ownership of 18.99% of BOXL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.94% of BOXL, in contrast to 15.44% held by mutual funds. Shares owned by individuals account for 12.53%. As the largest shareholder in BOXL with 7.70% of the stake, Armistice Capital LLC holds 5,670,000 shares worth 5,670,000. A second-largest stockholder of BOXL, The Vanguard Group, Inc., holds 2,258,780 shares, controlling over 3.07% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BOXL, holding 989,584 shares or 1.34% stake. With a 2.04% stake in BOXL, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,499,605 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.95% of BOXL stock, is the second-largest Mutual Fund holder. It holds 701,328 shares valued at 0.37 million. Fidelity Extended Market Index Fu holds 0.35% of the stake in BOXL, owning 258,966 shares worth 0.14 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BOXL since 3 analysts follow the stock currently. There are 3 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 BOXL analysts setting a high price target of $3.00 and a low target of $1.50, the average target price over the next 12 months is $2.33. Based on these targets, BOXL could surge 614.29% to reach the target high and rise by 257.14% to reach the target low. Reaching the average price target will result in a growth of 454.76% 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. BOXL will report FY 2022 earnings on 04/03/2023. Analysts have provided yearly estimates in a range of -$0.03 being high and -$0.09 being low. For BOXL, this leads to a yearly average estimate of -$0.06. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Boxlight Corporation surprised analysts by $0.01 when it reported $0.03 EPS against a consensus estimate of $0.02. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.04.
Summary of Insider Activity:
Insiders traded BOXL stock several times over the past three months with 1 Buys and 5 Sells. In these transactions, 12,500 shares were bought while 20,172 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 1,247,471 while 800,951 shares were sold.