Holdings of Latch Inc. (LTCH) are aligned with the stars

Latch Inc. (NASDAQ: LTCH) stock jumped 1.79% on Tuesday to $0.97 against a previous-day closing price of $0.95. With 1.07 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $1.0500 whereas the lowest price it dropped to was $0.8595. The 52-week range on LTCH shows that it touched its highest point at $6.73 and its lowest point at $0.53 during that stretch. It currently has a 1-year price target of $4.12.

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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 up-trending over the past week, with a rise of 7.77%, but this was up by 29.41% over a month. Three-month performance surged to 2.27% while six-month performance fell -17.04%. The stock lost -84.22% in the past year, while it has gained 36.72% so far this year. A look at the trailing 12-month EPS for LTCH yields -1.72 with Next year EPS estimates of -0.88. For the next quarter, that number is -0.29. This implies an EPS growth rate of -875.90% for this year and 20.00% for next year.

Float and Shares Shorts:

At present, 141.97 million LTCH shares are outstanding with a float of 128.09 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.43 million, which was 4.44% higher than short shares on Sep 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 53.14% of LTCH’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 29.21% of LTCH, in contrast to 13.55% held by mutual funds. Shares owned by individuals account for 12.09%. As the largest shareholder in LTCH with 4.62% of the stake, The Vanguard Group, Inc. holds 6,691,354 shares worth 6,691,354. A second-largest stockholder of LTCH, BlackRock Fund Advisors, holds 6,426,321 shares, controlling over 4.44% of the firm’s shares. Brookfield Asset Management PIC C is the third largest shareholder in LTCH, holding 4,733,715 shares or 3.27% stake. With a 2.12% stake in LTCH, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,068,500 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.53% of LTCH stock, is the second-largest Mutual Fund holder. It holds 2,217,068 shares valued at 1.57 million. Vanguard Information Technology I holds 1.33% of the stake in LTCH, owning 1,932,584 shares worth 1.37 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LTCH since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 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 LTCH analysts setting a high price target of $2.50 and a low target of $2.50, the average target price over the next 12 months is $2.50. Based on these targets, LTCH could surge 157.73% to reach the target high and rise by 157.73% to reach the target low. Reaching the average price target will result in a growth of 157.73% 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 02/23/2024. Analysts have provided yearly estimates in a range of -$1.33 being high and -$1.33 being low. For LTCH, this leads to a yearly average estimate of -$1.33. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.36 and the low estimate is -$0.36. The average estimate for the next quarter is thus -$0.36.

Summary of Insider Activity:

Insiders traded LTCH stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 816,996 while 42,452 shares were sold.

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