AVITA Medical Inc (NASDAQ: RCEL) stock fell -0.48% on Monday to $12.54 against a previous-day closing price of $12.60. With 84740.0 shares changed hands, the volume of the stock remained lighter than its average volume of 0.16 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $12.72 whereas the lowest price it dropped to was $12.22. The 52-week range on RCEL shows that it touched its highest point at $21.70 and its lowest point at $6.29 during that stretch. It currently has a 1-year price target of $22.86. Beta for the stock currently stands at 1.62.
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 RCEL was up-trending over the past week, with a rise of 0.32%, but this was up by 23.06% over a month. Three-month performance dropped to -23.30% while six-month performance rose 9.71%. The stock gained 75.14% in the past year, while it has gained 90.00% so far this year. A look at the trailing 12-month EPS for RCEL yields -1.33 with Next year EPS estimates of -1.16. For the next quarter, that number is -0.35. This implies an EPS growth rate of -56.55% for this year and 30.95% for next year.
Float and Shares Shorts:
At present, 25.21 million RCEL shares are outstanding with a float of 24.69 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.58 million, which was 2.29% higher than short shares on Sep 28, 2023. In addition to Mr. James M. Corbett as the firm’s CEO, President & Executive Director, Mr. Andrew Quick serves as its Chief Technology Officer.
Institutional Ownership:
Through their ownership of 24.01% of RCEL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.47% of RCEL, in contrast to 16.73% held by mutual funds. Shares owned by individuals account for 15.47%. As the largest shareholder in RCEL with 6.19% of the stake, BlackRock Fund Advisors holds 1,576,511 shares worth 1,576,511. A second-largest stockholder of RCEL, The Vanguard Group, Inc., holds 1,309,747 shares, controlling over 5.14% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in RCEL, holding 498,618 shares or 1.96% stake. With a 3.20% stake in RCEL, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 816,217 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.31% of RCEL stock, is the second-largest Mutual Fund holder. It holds 589,137 shares valued at 5.48 million. Calamos Timpani Small Cap Growth holds 1.47% of the stake in RCEL, owning 374,584 shares worth 3.49 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RCEL 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 RCEL analysts setting a high price target of $40.00 and a low target of $17.64, the average target price over the next 12 months is $22.86. Based on these targets, RCEL could surge 218.98% to reach the target high and rise by 40.67% to reach the target low. Reaching the average price target will result in a growth of 82.3% from current levels.
Summary of Insider Activity:
Insiders traded RCEL 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 21 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 132,703 while 4,193 shares were sold.
