Near Intelligence Inc. (NASDAQ: NIR) stock fell -5.26% on Friday to $0.36 against a previous-day closing price of $0.38. With 0.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.67 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.3999 whereas the lowest price it dropped to was $0.3600. The 52-week range on NIR shows that it touched its highest point at $18.65 and its lowest point at $0.35 during that stretch. It currently has a 1-year price target of $4.50. Beta for the stock currently stands at -0.19.
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 NIR was down-trending over the past week, with a drop of -14.29%, but this was down by -25.77% over a month. Three-month performance dropped to -83.10% while six-month performance fell -96.54%. The stock lost -96.41% in the past year, while it has lost -96.48% so far this year. A look at the trailing 12-month EPS for NIR yields -1.42 with Next year EPS estimates of -0.85. For the next quarter, that number is -0.30. This implies an EPS growth rate of -201.90% for this year and 48.20% for next year.
Float and Shares Shorts:
At present, 48.82 million NIR shares are outstanding with a float of 21.53 million shares on hand for trading. On Aug 30, 2023, short shares totaled 76760.0, which was 0.15% higher than short shares on Jul 30, 2023. In addition to Mr. Anil Mathews as the firm’s Founder, CEO & Chairman, Mr. Shobhit Shukla serves as its Co-Founder & Pres.
Through their ownership of 25.88% of NIR’s outstanding shares, institutional investors have minority control over the company.
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, NIR reported revenue of $14.84M and operating income of -$69.38M. The EBITDA in the recently reported quarter was -$67.00M and diluted EPS was -$1.52.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NIR 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 NIR analysts setting a high price target of $5.00 and a low target of $2.00, the average target price over the next 12 months is $3.50. Based on these targets, NIR could surge 1288.89% to reach the target high and rise by 455.56% to reach the target low. Reaching the average price target will result in a growth of 872.22% 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 NIR stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 38,075 shares were bought while 2,793 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 23,353,472 while 2,680,965 shares were sold.