Getaround Inc. (NYSE: GETR) stock jumped 32.30% on Friday to $0.18 against a previous-day closing price of $0.14. With 25.85 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.25 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.3411 whereas the lowest price it dropped to was $0.1404. The 52-week range on GETR shows that it touched its highest point at $10.17 and its lowest point at $0.14 during that stretch. It currently has a 1-year price target of $1.25. Beta for the stock currently stands at 0.68.
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 GETR was up-trending over the past week, with a rise of 1.84%, but this was down by -31.32% over a month. Three-month performance dropped to -63.46% while six-month performance fell -67.37%. The stock lost -98.17% in the past year, while it has lost -72.00% so far this year.
Float and Shares Shorts:
At present, 92.09 million GETR shares are outstanding with a float of 11.49 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.19 million, which was 0.20% higher than short shares on Sep 28, 2023. In addition to Mr. Sam Zaid as the firm’s Co-Founder, Chairman & CEO, Mr. Spencer D. Jackson Esq. serves as its General Counsel & Secretary.
Institutional Ownership:
Through their ownership of 35.83% of GETR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.79% of GETR, in contrast to 10.75% held by mutual funds. Shares owned by individuals account for 1.42%. As the largest shareholder in GETR with 1.46% of the stake, Pennant Investors LP holds 1,348,153 shares worth 1,348,153. A second-largest stockholder of GETR, Geode Capital Management LLC, holds 518,434 shares, controlling over 0.56% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GETR, holding 468,221 shares or 0.51% stake. With a 0.45% stake in GETR, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 411,050 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.31% of GETR stock, is the second-largest Mutual Fund holder. It holds 283,878 shares valued at 62453.0. Lumyna – MW TOPS UCITS Fund holds 0.17% of the stake in GETR, owning 152,006 shares worth 33441.0.
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. Over the past year, revenue came in at $62.26M while operating income stood at -$97.05M. EBITDA for the full year was -$84.25M.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GETR 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 GETR analysts setting a high price target of $1.25 and a low target of $1.25, the average target price over the next 12 months is $1.25. Based on these targets, GETR could surge 594.44% to reach the target high and rise by 594.44% to reach the target low. Reaching the average price target will result in a growth of 594.44% from current levels.
Summary of Insider Activity:
Insiders traded GETR 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 26 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 17,974,893 while 0 shares were sold.
