SpringBig Holdings Inc. (NASDAQ: SBIG) stock fell -19.50% on Wednesday to $0.35 against a previous-day closing price of $0.43. With 0.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 96410.0 shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.4301 whereas the lowest price it dropped to was $0.2900. The 52-week range on SBIG shows that it touched its highest point at $5.44 and its lowest point at $0.41 during that stretch. It currently has a 1-year price target of $1.43.
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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 SBIG was down-trending over the past week, with a drop of -40.87%, but this was down by -46.85% over a month. Three-month performance dropped to -57.77% while six-month performance fell -60.42%. The stock lost -93.05% in the past year, while it has lost -30.46% so far this year. A look at the trailing 12-month EPS for SBIG yields -0.51 with Next year EPS estimates of 0.06. For the next quarter, that number is -0.04. This implies an EPS growth rate of -158.00% for this year and 146.20% for next year.
Float and Shares Shorts:
At present, 26.80 million SBIG shares are outstanding with a float of 14.55 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.27 million, which was 1.00% higher than short shares on Mar 30, 2023. In addition to Mr. Jeffrey Harris as the firm’s Co-Founder, CEO & Chairman, Mr. Paul Sykes serves as its Chief Financial Officer.
Through their ownership of 38.10% of SBIG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.74% of SBIG, in contrast to 32.59% held by mutual funds. Shares owned by individuals account for 0.10%. As the largest shareholder in SBIG with 4.79% of the stake, Cantor Fitzgerald & Co. holds 1,291,086 shares worth 1,291,086. A second-largest stockholder of SBIG, Neuberger Berman Investment Advis, holds 123,328 shares, controlling over 0.46% of the firm’s shares. CSS LLC is the third largest shareholder in SBIG, holding 31,006 shares or 0.12% stake. With a 0.09% stake in SBIG, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 23,342 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.02% of SBIG stock, is the second-largest Mutual Fund holder. It holds 4,301 shares valued at 2391.0. Picton Mahoney Fortified Arbitrag holds 0.00% of the stake in SBIG, owning 0 shares worth 0.0.
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 Mar 30, 2023, SBIG reported revenue of $6.58M and operating income of -$5.28M. The EBITDA in the recently reported quarter was -$5.21M and diluted EPS was -$0.14.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SBIG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SBIG analysts setting a high price target of $2.00 and a low target of $1.25, the average target price over the next 12 months is $1.62. Based on these targets, SBIG could surge 471.43% 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 362.86% 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.
Summary of Insider Activity:
Insiders traded SBIG 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 4 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 5,529,959 while 1,000,000 shares were sold.