Nogin Inc (NASDAQ: NOGN) stock jumped 74.11% on Monday to $0.31 against a previous-day closing price of $0.18. With 37.97 million shares changed hands, the volume of the stock remained heavier than its average volume of 91530.0 shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.4280 whereas the lowest price it dropped to was $0.2622. The 52-week range on NOGN shows that it touched its highest point at $19.65 and its lowest point at $0.17 during that stretch. It currently has a 1-year price target of $2.00. Beta for the stock currently stands at 0.25.
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 NOGN was up-trending over the past week, with a rise of 4.00%, but this was down by -10.86% over a month. Three-month performance dropped to -56.21% while six-month performance fell -83.14%. The stock lost -97.00% in the past year, while it has lost -97.97% so far this year. A look at the trailing 12-month EPS for NOGN yields -4.69 with Next year EPS estimates of -0.13. For the next quarter, that number is -0.67. This implies an EPS growth rate of 82.78% for this year and 96.60% for next year.
Float and Shares Shorts:
At present, 11.09 million NOGN shares are outstanding with a float of 7.22 million shares on hand for trading. On Oct 30, 2023, short shares totaled 37460.0, which was 0.34% higher than short shares on Sep 28, 2023. In addition to Mr. Jonathan S. Huberman as the firm’s President, CEO & Chairman, Mr. Shahriyar Rahmati serves as its COO, CFO & Director.
Through their ownership of 13.93% of NOGN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 27.20% of NOGN, in contrast to 18.52% held by mutual funds. Shares owned by individuals account for 0.37%. As the largest shareholder in NOGN with 4.97% of the stake, Raymond James & Associates, Inc. holds 551,444 shares worth 551,444. A second-largest stockholder of NOGN, Luminus Management LLC, holds 309,241 shares, controlling over 2.79% of the firm’s shares. LMR Partners LLP is the third largest shareholder in NOGN, holding 236,574 shares or 2.13% stake. With a 0.35% stake in NOGN, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 38,535 shares are owned by the mutual fund manager. The EHP Global Arbitrage Alternative, which owns about 0.01% of NOGN stock, is the second-largest Mutual Fund holder. It holds 1,250 shares valued at 375.0. Fidelity Nasdaq Composite Index F holds 0.01% of the stake in NOGN, owning 691 shares worth 207.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NOGN 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 NOGN analysts setting a high price target of $3.00 and a low target of $1.00, the average target price over the next 12 months is $2.00. Based on these targets, NOGN could surge 867.74% to reach the target high and rise by 222.58% to reach the target low. Reaching the average price target will result in a growth of 545.16% from current levels.
Summary of Insider Activity:
Insiders traded NOGN 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 7 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 22,700 while 0 shares were sold.