Nxu Inc. (NASDAQ: NXU) stock fell -6.09% on Friday to $0.17 against a previous-day closing price of $0.18. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.98 million shares. During the session, the Electrical Equipment & Parts company that operates in wider Industrials sector, reached to the highest price of $0.1890 whereas the lowest price it dropped to was $0.1682. The 52-week range on NXU shows that it touched its highest point at $243.99 and its lowest point at $0.16 during that stretch. Beta for the stock currently stands at 4.18.
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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 NXU was down-trending over the past week, with a drop of -9.08%, but this was down by -15.18% over a month. Three-month performance dropped to -73.76% while six-month performance fell -77.14%. A look at the trailing 12-month EPS for NXU yields -5.74 with Next year EPS estimates of -0.24. For the next quarter, that number is -0.16. This implies an EPS growth rate of 6.10% for this year and 74.70% for next year.
Float and Shares Shorts:
At present, 41.32 million NXU shares are outstanding with a float of 40.06 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.36 million, which was 0.64% higher than short shares on Jul 30, 2023.
Institutional Ownership:
Through their ownership of 3.48% of NXU’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 64.28% of NXU, in contrast to 1.29% held by mutual funds. Shares owned by individuals account for 0.75%. As the largest shareholder in NXU with 0.63% of the stake, Schonfeld Strategic Advisors LLC holds 365,100 shares worth 365,100. A second-largest stockholder of NXU, Geode Capital Management LLC, holds 214,084 shares, controlling over 0.37% of the firm’s shares. MBE Wealth Management LLC is the third largest shareholder in NXU, holding 106,383 shares or 0.18% stake. With a 0.40% stake in NXU, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 232,200 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 0.30% of NXU stock, is the second-largest Mutual Fund holder. It holds 175,282 shares valued at 35056.0. Fidelity Extended Market Index Fu holds 0.26% of the stake in NXU, owning 148,911 shares worth 29782.0.
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, NXU reported revenue of $0.00 and operating income of -$17.65M. The EBITDA in the recently reported quarter was -$17.48M and diluted EPS was -$0.47.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NXU 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 NXU analysts setting a high price target of $0.75 and a low target of $0.75, the average target price over the next 12 months is $0.75. Based on these targets, NXU could surge 341.18% to reach the target high and rise by 341.18% to reach the target low. Reaching the average price target will result in a growth of 341.18% 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 NXU stock several times over the past three months with 8 Buys and 3 Sells. In these transactions, 1,378,841 shares were bought while 439,513 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 1,378,841 while 439,513 shares were sold.
