The price of Navitas Semiconductor Corp (NASDAQ:NVTS) shares last traded on Wall Street fell -5.11% to $4.46.
NVTS stock price is now -24.48% away from the 50-day moving average and -40.14% away from the 200-day moving average. The market capitalization of the company currently stands at $799.46M.
On August 29, 2023, Morgan Stanley recently initiated its ‘Equal-Weight’ rating on the stock quoting a target price of $9.20, while ‘Rosenblatt’ rates the stock as ‘Buy’
In other news, Sheridan Eugene, President & CEO sold 38,431 shares of the company’s stock on Mar 14 ’24. The stock was sold for $184,507 at an average price of $4.80. Upon completion of the transaction, the President & CEO now directly owns 3,061,631 shares in the company, valued at $13.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, COO and CTO Kinzer Daniel M. sold 24,073 shares of the business’s stock. A total of $115,574 was realized by selling the stock at an average price of $4.80. This leaves the insider owning 4,538,353 shares of the company worth $20.24 million. A total of 34.34% of the company’s stock is owned by insiders.
During the past 12 months, Navitas Semiconductor Corp has had a low of $4.47 and a high of $11.16. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 4.14, and a quick ratio of 3.68. The fifty day moving average price for NVTS is $5.8520 and a two-hundred day moving average price translates $7.4280 for the stock.
The latest earnings results from Navitas Semiconductor Corp (NASDAQ: NVTS) was released for Dec, 2023. According to the Semiconductors Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.05 by 0.01. This compares to -$0.13 EPS in the same period last year. The net profit margin was -183.04% and return on equity was -38.18% for NVTS. The company reported revenue of $26.06 million for the quarter, compared to $12.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 111.01 percent. For the current quarter, analysts expect NVTS to generate $22.93M in revenue.
