Near Intelligence Inc (NASDAQ: NIR) stock fell -1.15% on Monday to $0.18 against a previous-day closing price of $0.18. With 0.7 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.62 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.1910 whereas the lowest price it dropped to was $0.1705. The 52-week range on NIR shows that it touched its highest point at $18.65 and its lowest point at $0.13 during that stretch. It currently has a 1-year price target of $3.50. Beta for the stock currently stands at 0.36.
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 -16.28%, but this was up by 5.88% over a month. Three-month performance dropped to -57.14% while six-month performance fell -90.53%. The stock lost -98.22% in the past year, while it has lost -98.24% so far this year.
Float and Shares Shorts:
At present, 51.75 million NIR shares are outstanding with a float of 15.22 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.21 million, which was 0.41% higher than short shares on Sep 28, 2023. In addition to Ms. Gladys Kong as the firm’s Interim CEO & Secretary, Mr. John Faieta serves as its Interim Chief Financial Officer.
Through their ownership of 25.88% of NIR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.91% of NIR, in contrast to 15.24% held by mutual funds. Shares owned by individuals account for 0.71%. As the largest shareholder in NIR with 11.31% of the stake, JPMorgan Investment Management, I holds 5,852,099 shares worth 5,852,099. A second-largest stockholder of NIR, Polar Asset Management Partners,, holds 1,773,612 shares, controlling over 3.43% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in NIR, holding 186,094 shares or 0.36% stake. With a 0.20% stake in NIR, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 101,090 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.15% of NIR stock, is the second-largest Mutual Fund holder. It holds 79,010 shares valued at 11852.0. iShares Tr. – Micro Cap ETF holds 0.11% of the stake in NIR, owning 55,900 shares worth 8385.0.
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 2677.78% to reach the target high and rise by 1011.11% to reach the target low. Reaching the average price target will result in a growth of 1844.44% from current levels.
Summary of Insider Activity:
Insiders traded NIR 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 11 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 11,995,258 while 2,419,587 shares were sold.