A History of Outperforming Analyst Forecasts and Beating the Odds: Micromobility.com Inc. (MCOM)

Micromobility.com Inc. (NASDAQ: MCOM) stock jumped 15.01% on Friday to $0.08 against a previous-day closing price of $0.07. With 51.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 22.73 million shares. During the session, the Recreational Vehicles company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.0848 whereas the lowest price it dropped to was $0.0688. The 52-week range on MCOM shows that it touched its highest point at $29.50 and its lowest point at $0.06 during that stretch. Beta for the stock currently stands at 0.44.

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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 MCOM was up-trending over the past week, with a rise of 13.89%, but this was down by -3.53% over a month. Three-month performance dropped to -58.48% while six-month performance fell -98.68%. The stock lost -99.71% in the past year, while it has lost -98.74% so far this year.

Float and Shares Shorts:

At present, 141.73 million MCOM shares are outstanding with a float of 140.65 million shares on hand for trading. On Aug 30, 2023, short shares totaled 19.17 million, which was 13.50% higher than short shares on Jul 30, 2023. In addition to Mr. Salvatore Palella as the firm’s Founder, Chairman, Pres & CEO, Mr. Giulio Profumo serves as its CFO & Director.

Institutional Ownership:

Through their ownership of 0.23% of MCOM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 0.41% of MCOM, in contrast to 0.21% held by mutual funds. Shares owned by individuals account for 0.08%. As the largest shareholder in MCOM with 0.12% of the stake, Virtu Financial BD LLC holds 164,563 shares worth 164,563. A second-largest stockholder of MCOM, Millennium Management LLC, holds 96,441 shares, controlling over 0.07% of the firm’s shares. Cubist Systematic Strategies LLC is the third largest shareholder in MCOM, holding 87,916 shares or 0.06% stake. With a 0.05% stake in MCOM, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 74,382 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.02% of MCOM stock, is the second-largest Mutual Fund holder. It holds 27,498 shares valued at 1897.0. Fidelity Total Market Index Fund holds 0.01% of the stake in MCOM, owning 6,377 shares worth 440.0.

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 Jun 29, 2023, MCOM reported revenue of $4.36M and operating income of -$16.40M. The EBITDA in the recently reported quarter was -$15.23M and diluted EPS was -$0.57.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MCOM 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 MCOM analysts setting a high price target of $650.00 and a low target of $650.00, the average target price over the next 12 months is $650.00. Based on these targets, MCOM could surge 812400.0% to reach the target high and rise by 812400.0% to reach the target low. Reaching the average price target will result in a growth of 812400.0% 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 MCOM 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 8 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 10,679,585 while 0 shares were sold.

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