Movella Holdings Inc. (NASDAQ: MVLA) stock fell -7.35% on Friday to $0.63 against a previous-day closing price of $0.68. With 0.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.24 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.7000 whereas the lowest price it dropped to was $0.6300. The 52-week range on MVLA shows that it touched its highest point at $10.76 and its lowest point at $0.65 during that stretch. It currently has a 1-year price target of $3.38. Beta for the stock currently stands at 0.10.
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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 MVLA was down-trending over the past week, with a drop of -5.97%, but this was down by -38.83% over a month. Three-month performance dropped to -75.58% while six-month performance fell -68.34%. The stock lost -93.62% in the past year, while it has lost -93.74% so far this year. A look at the trailing 12-month EPS for MVLA yields -0.04 with Next year EPS estimates of -0.06. For the next quarter, that number is -0.10. This implies an EPS growth rate of -102.40% for this year and 84.20% for next year.
Float and Shares Shorts:
At present, 50.88 million MVLA shares are outstanding with a float of 33.23 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.2 million, which was 0.39% higher than short shares on Jul 30, 2023.
Institutional Ownership:
Through their ownership of 48.01% of MVLA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.05% of MVLA, in contrast to 22.04% held by mutual funds. Shares owned by individuals account for 1.36%. As the largest shareholder in MVLA with 6.41% of the stake, Columbia Management Investment Ad holds 3,263,392 shares worth 3,263,392. A second-largest stockholder of MVLA, The Vanguard Group, Inc., holds 602,777 shares, controlling over 1.18% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in MVLA, holding 374,201 shares or 0.74% stake. With a 6.41% stake in MVLA, the Columbia Seligman Technology & In is the largest stakeholder. A total of 3,263,392 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.16% of MVLA stock, is the second-largest Mutual Fund holder. It holds 588,741 shares valued at 0.47 million. Fidelity Extended Market Index Fu holds 0.27% of the stake in MVLA, owning 138,478 shares worth 0.11 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 Jun 29, 2023, MVLA reported revenue of $8.58M and operating income of -$6.82M. Over the past year, revenue came in at $36.53M while operating income stood at -$23.50M. It generated -$6.88M net income for the quarter, which came to -$22.24M over the last twelve months. The EBITDA in the recently reported quarter was -$4.96M and diluted EPS was -$1.48. EBITDA for the full year was -$14.93M.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MVLA 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 MVLA analysts setting a high price target of $4.00 and a low target of $2.40, the average target price over the next 12 months is $3.38. Based on these targets, MVLA could surge 534.92% to reach the target high and rise by 280.95% to reach the target low. Reaching the average price target will result in a growth of 436.51% 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 MVLA 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 17 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 14,978,181 while 0 shares were sold.
