Market Analysts see Metromile Inc. [MILE] gaining to $15. Time to buy?

Metromile Inc. [NASDAQ: MILE] stock went on an upward path that rose over 15.59% on Wednesday, amounting to a one-week price increase of more than 1.74%. The company report on March 31, 2021 that Metromile Announces Fourth Quarter and Full Year 2020 Results.

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Metromile, Inc. (“Metromile”) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, announced financial results of Metromile Operating Company (formerly MetroMile, Inc.) for the fourth quarter and full year 2020 in its shareholder letter. The letter is accessible on Metromile’s investor relations website at ir.metromile.com.

Metromile will hold a conference call to discuss the results at 5:00 pm ET / 2:00 pm PT. A live webcast of the conference call will be available on Metromile’s investor relations website at ir.metromile.com. The dial-in number for the conference call is (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please dial the number 10 minutes prior to the scheduled start time.

The market cap for the stock reached $1.10 billion, with 126.06 million shares outstanding. Compared to the average trading volume of 1.85M shares, MILE stock reached a trading volume of 3585149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Metromile Inc. [MILE]:

Piper Sandler have made an estimate for Metromile Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 06, 2021.

The Average True Range (ATR) for Metromile Inc. is set at 0.96, with the Price to Sales ratio for MILE stock in the period of the last 12 months amounting to 31.46.

MILE Stock Performance Analysis:

Metromile Inc. [MILE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.74.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MILE stock in for the last two-week period is set at 37.49, with the RSI for the last a single of trading hit 40.48, and the three-weeks RSI is set at 38.07 for Metromile Inc. [MILE]. The present Moving Average for the last 50 days of trading for this stock 12.93, while it was recorded at 8.12 for the last single week of trading.

Insight into Metromile Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Metromile Inc. [MILE] shares currently have an operating margin of -127.82. Metromile Inc.’s Net Margin is presently recorded at -342.51.

Metromile Inc. [MILE] Insider Position Details

There are presently around $84 million, or 33.22% of MILE stock, in the hands of institutional investors. The top three institutional holders of MILE stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 2,096,830, which is approximately New of the company’s market cap and around 36.07% of the total institutional ownership; NANTAHALA CAPITAL MANAGEMENT, LLC, holding 1,698,075 shares of the stock with an approximate value of $12.85 million in MILE stocks shares; and SUVRETTA CAPITAL MANAGEMENT, LLC, currently with $8.7 million in MILE stock with ownership of nearly New of the company’s market capitalization.

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48 institutional holders increased their position in Metromile Inc. [NASDAQ:MILE] by around 11,098,395 shares. Additionally, 1 investors decreased positions by around 67 shares, while 0 investors held positions by with 1,827 shares. The mentioned changes placed institutional holdings at 11,100,289 shares, according to the latest SEC report filing. MILE stock had 46 new institutional investments in for a total of 11,097,538 shares, while 1 institutional investors sold positions of 67 shares during the same period.

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