Waitr Holdings Inc. [NASDAQ: WTRH] traded at a high on 01/03/22, posting a 5.41 gain after which it closed the day’ session at $0.78. The company report on December 17, 2021 that Waitr Enters into Letter of Intent to Acquire a Dispensary Compliance POS Company.
Waitr Holdings Inc. (Nasdaq: WTRH) (“Waitr” or the “Company”), a leader in on-demand food ordering and delivery, today announced the Company has entered into a non-binding letter of intent (“LOI”) to acquire Retail Innovation Labs Inc. dba Cova (“Cova”), a leading point of sale (“POS”), inventory and compliance software business serving cannabis dispensary retailers in North America.
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“We believe that the Cova POS solution will be symbiotic with our recently acquired Cape Payments business,” said Carl Grimstad, CEO and Chairman of the Board of Waitr, “as we estimate annualized gross merchandise value of the cannabis transactions processed on the Cova platform of approximately $2.3 billion, based on recent performance.” “Cova’s software solution is currently utilized by approximately 2,000 dispensaries in Canada and the United States, and will provide an opportunity to offer these retailers regulatory compliant payment solutions and, when and if provincial regulations in Canada and federal and state regulations in the United States evolve, potentially the ability to offer delivery services as well. Additionally, we believe that we may be able to adapt the Cova POS solution for restaurants in order to offer our restaurant base an integrated solution for in-house and food delivery services,” concluded Mr. Grimstad.
The results of the trading session contributed to over 5222552 shares changing hands. Over the past one week, the price volatility of Waitr Holdings Inc. stands at 7.16% while the volatility over the past one month is 8.12%.
The market cap for WTRH stock reached $97.36 million, with 119.82 million shares outstanding and 87.57 million shares in the current float. Compared to the average trading volume of 13.14M shares, WTRH reached a trading volume of 5222552 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Waitr Holdings Inc. [WTRH]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WTRH shares is $3.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WTRH stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Benchmark Company have made an estimate for Waitr Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 10, 2021. The new note on the price target was released on August 10, 2021, representing the official price target for Waitr Holdings Inc. stock. Previously, the target price had yet another raise to $4, while Deutsche Bank analysts kept a Buy rating on WTRH stock.
The Average True Range (ATR) for Waitr Holdings Inc. is set at 0.08, with the Price to Sales ratio for WTRH stock in the period of the last 12 months amounting to 0.51. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 0.35. Price to Free Cash Flow for WTRH in the course of the last twelve months was 13.91 with Quick ratio for the last quarter at 1.60.
How has WTRH stock performed recently?
Waitr Holdings Inc. [WTRH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.47. With this latest performance, WTRH shares dropped by -21.95% in over the last four-week period, additionally sinking by -55.93% over the last 6 months – not to mention a drop of -73.47% in the past year of trading.
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 WTRH stock in for the last two-week period is set at 36.21, with the RSI for the last a single of trading hit 35.43, and the three-weeks RSI is set at 38.50 for Waitr Holdings Inc. [WTRH]. The present Moving Average for the last 50 days of trading for this stock 1.1757, while it was recorded at 0.7686 for the last single week of trading, and 1.6320 for the last 200 days.
Waitr Holdings Inc. [WTRH]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Waitr Holdings Inc. [WTRH] shares currently have an operating margin of +13.32 and a Gross Margin at +42.19. Waitr Holdings Inc.’s Net Margin is presently recorded at +7.75.
Return on Total Capital for WTRH is now 16.26, given the latest momentum, and Return on Invested Capital for the company is 9.64. Return on Equity for this stock inclined to 28.53, with Return on Assets sitting at 7.70. When it comes to the capital structure of this company, Waitr Holdings Inc. [WTRH] has a Total Debt to Total Equity ratio set at 110.22. Additionally, WTRH Total Debt to Total Capital is recorded at 52.43, with Total Debt to Total Assets ending up at 41.81. Long-Term Debt to Equity for the company is recorded at 107.12, with the Long-Term Debt to Total Capital now at 50.96.
Reflecting on the efficiency of the workforce at the company, Waitr Holdings Inc. [WTRH] managed to generate an average of $15,315 per employee. Receivables Turnover for the company is 65.64 with a Total Asset Turnover recorded at a value of 0.99.Waitr Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.
Earnings analysis for Waitr Holdings Inc. [WTRH]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WTRH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Waitr Holdings Inc. go to 20.00%.
Insider trade positions for Waitr Holdings Inc. [WTRH]
There are presently around $25 million, or 27.20% of WTRH stock, in the hands of institutional investors. The top three institutional holders of WTRH stocks are: MORGAN STANLEY with ownership of 12,120,560, which is approximately 1401.565% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 4,398,323 shares of the stock with an approximate value of $3.25 million in WTRH stocks shares; and JEFFERIES FINANCIAL GROUP INC., currently with $2.88 million in WTRH stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Waitr Holdings Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 21 institutional holders increased their position in Waitr Holdings Inc. [NASDAQ:WTRH] by around 15,770,922 shares. Additionally, 57 investors decreased positions by around 26,148,570 shares, while 32 investors held positions by with 7,537,649 shares. The mentioned changes placed institutional holdings at 34,381,843 shares, according to the latest SEC report filing. WTRH stock had 6 new institutional investments in for a total of 1,522,547 shares, while 35 institutional investors sold positions of 13,850,360 shares during the same period.