Sarcos Technology and Robotics Corporation (NASDAQ: STRC) stock jumped 17.39% on Wednesday to $0.45 against a previous-day closing price of $0.38. With 0.6 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.41 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $0.4500 whereas the lowest price it dropped to was $0.3678. The 52-week range on STRC shows that it touched its highest point at $4.61 and its lowest point at $0.33 during that stretch. It currently has a 1-year price target of $2.75.
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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 STRC was up-trending over the past week, with a rise of 26.69%, but this was up by 25.44% over a month. Three-month performance dropped to -18.19% while six-month performance fell -61.53%. The stock lost -88.98% in the past year, while it has lost -20.51% so far this year. A look at the trailing 12-month EPS for STRC yields -1.05 with Next year EPS estimates of -0.33. For the next quarter, that number is -0.12. This implies an EPS growth rate of -80.80% for this year and 26.70% for next year.
Float and Shares Shorts:
At present, 154.30 million STRC shares are outstanding with a float of 78.64 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.34 million, which was 2.81% higher than short shares on Mar 30, 2023. In addition to Ms. Laura J. Peterson as the firm’s Interim Pres, CEO & Director, Mr. Benjamin G. Wolff serves as its Co-Founder & Non-Employee Director.
Institutional Ownership:
Through their ownership of 18.12% of STRC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.77% of STRC, in contrast to 5.98% held by mutual funds. Shares owned by individuals account for 37.68%. As the largest shareholder in STRC with 3.50% of the stake, BlackRock Fund Advisors holds 5,398,851 shares worth 5,398,851. A second-largest stockholder of STRC, The Vanguard Group, Inc., holds 4,068,864 shares, controlling over 2.64% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in STRC, holding 1,705,693 shares or 1.11% stake. With a 1.53% stake in STRC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,362,032 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.38% of STRC stock, is the second-largest Mutual Fund holder. It holds 2,124,710 shares valued at 0.85 million. BlackRock Global Allocation V.I. holds 0.81% of the stake in STRC, owning 1,248,635 shares worth 0.5 million.
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, STRC reported revenue of $3.04M and operating income of -$28.98M. The EBITDA in the recently reported quarter was -$32.20M and diluted EPS was -$0.16.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for STRC 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 STRC analysts setting a high price target of $4.25 and a low target of $2.00, the average target price over the next 12 months is $2.75. Based on these targets, STRC could surge 844.44% to reach the target high and rise by 344.44% to reach the target low. Reaching the average price target will result in a growth of 511.11% 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 STRC stock several times over the past three months with 13 Buys and 4 Sells. In these transactions, 2,107,883 shares were bought while 8,102 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 5,152,483 while 7,274,453 shares were sold.
