Stocks of Stryve Foods Inc. (SNAX) are poised to climb above their peers

Stryve Foods Inc. (NASDAQ: SNAX) stock fell -2.87% on Tuesday to $0.68 against a previous-day closing price of $0.70. With 0.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.27 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $0.7100 whereas the lowest price it dropped to was $0.6782. The 52-week range on SNAX shows that it touched its highest point at $3.02 and its lowest point at $0.22 during that stretch. It currently has a 1-year price target of $2.00. Beta for the stock currently stands at 1.12.

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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 SNAX was down-trending over the past week, with a drop of -23.58%, but this was down by -9.32% over a month. Three-month performance surged to 78.97% while six-month performance fell -6.84%. The stock lost -72.24% in the past year, while it has lost -6.66% so far this year. A look at the trailing 12-month EPS for SNAX yields -1.64 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.15. This implies an EPS growth rate of -82.30% for this year and 59.40% for next year.

Float and Shares Shorts:

At present, 30.99 million SNAX shares are outstanding with a float of 20.50 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.25 million, which was 0.98% higher than short shares on Nov 29, 2022. In addition to Mr. R. Alex Hawkins CFA as the firm’s Chief Financial Officer, Mr. Christopher J. Boever serves as its CEO & Director.

Institutional Ownership:

Through their ownership of 17.65% of SNAX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 25.13% of SNAX, in contrast to 17.04% held by mutual funds. Shares owned by individuals account for 0.80%. As the largest shareholder in SNAX with 7.92% of the stake, CWA Asset Management Group LLC holds 1,980,869 shares worth 1,980,869. A second-largest stockholder of SNAX, The Vanguard Group, Inc., holds 937,106 shares, controlling over 3.75% of the firm’s shares. Armistice Capital LLC is the third largest shareholder in SNAX, holding 663,901 shares or 2.65% stake. With a 0.24% stake in SNAX, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 58,942 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.16% of SNAX stock, is the second-largest Mutual Fund holder. It holds 41,006 shares valued at 29893.0. MontLake UCITS Platform ICAV – In holds 0.14% of the stake in SNAX, owning 35,618 shares worth 25966.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, SNAX reported revenue of $10.95M and operating income of -$15.99M. The EBITDA in the recently reported quarter was -$15.61M and diluted EPS was -$0.53.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SNAX 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 SNAX analysts setting a high price target of $3.00 and a low target of $1.00, the average target price over the next 12 months is $2.00. Based on these targets, SNAX could surge 341.18% to reach the target high and rise by 47.06% to reach the target low. Reaching the average price target will result in a growth of 194.12% 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. SNAX will report FY 2022 earnings on 03/25/2024. Analysts have provided yearly estimates in a range of -$1.02 being high and -$1.10 being low. For SNAX, this leads to a yearly average estimate of -$1.06. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Stryve Foods Inc. surprised analysts by $0.04 when it reported -$0.16 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was -$0.20. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.16. The average estimate for the next quarter is thus -$0.15.

Summary of Insider Activity:

Insiders traded SNAX stock several times over the past three months with 21 Buys and 0 Sells. In these transactions, 948,320 shares were bought while 0 shares were sold. The number of buy transactions has increased to 49 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 3,484,343 while 31,029 shares were sold.

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