Forza X1 Inc. (NASDAQ: FRZA) stock jumped 8.07% on Friday to $0.91 against a previous-day closing price of $0.84. With 84817.0 shares changed hands, the volume of the stock remained lighter than its average volume of 0.23 million shares. During the session, the Recreational Vehicles company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.9084 whereas the lowest price it dropped to was $0.8425. The 52-week range on FRZA shows that it touched its highest point at $3.98 and its lowest point at $0.82 during that stretch. It currently has a 1-year price target of $5.00. Beta for the stock currently stands at 2.37.
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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 FRZA was up-trending over the past week, with a rise of 1.57%, but this was down by -12.65% over a month. Three-month performance dropped to -38.62% while six-month performance fell -23.02%. The stock lost -69.31% in the past year, while it has lost -29.03% so far this year.
Float and Shares Shorts:
At present, 11.45 million FRZA shares are outstanding with a float of 8.68 million shares on hand for trading. On Aug 30, 2023, short shares totaled 86300.0, which was 0.55% higher than short shares on Jul 30, 2023. In addition to Mr. Joseph Visconti as the firm’s Exec. Chairman & Chief of Product Devel., Mr. Jim Leffew serves as its Pres, CEO & Director.
Institutional Ownership:
Other institutions hold 5.83% of FRZA, in contrast to 0.63% held by mutual funds. Shares owned by individuals account for 0.22%. As the largest shareholder in FRZA with 2.49% of the stake, Sabby Management LLC holds 393,411 shares worth 393,411. A second-largest stockholder of FRZA, AWM Investment Co., Inc., holds 334,410 shares, controlling over 2.12% of the firm’s shares. Lynwood Capital Management, Inc. is the third largest shareholder in FRZA, holding 200,000 shares or 1.27% stake. With a 0.20% stake in FRZA, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 31,185 shares are owned by the mutual fund manager. The Fidelity Series Total Market Inde, which owns about 0.02% of FRZA stock, is the second-largest Mutual Fund holder. It holds 3,639 shares valued at 3457.0. Carbon Collective Climate Solutio holds 0.00% of the stake in FRZA, owning 344 shares worth 327.0.
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, FRZA reported revenue of $0.00 and operating income of -$620.45k. The EBITDA in the recently reported quarter was -$609.11k and diluted EPS was -$0.07.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRZA 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 FRZA analysts setting a high price target of $5.00 and a low target of $5.00, the average target price over the next 12 months is $5.00. Based on these targets, FRZA could surge 449.45% to reach the target high and rise by 449.45% to reach the target low. Reaching the average price target will result in a growth of 449.45% 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 FRZA stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 20,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 57,137 while 0 shares were sold.
