Dave Inc. [DAVE] Stock trading around $6.19 per share: What’s Next?


Dave Inc. [NASDAQ: DAVE] jumped around 0.99 points on Thursday, while shares priced at $6.19 at the close of the session, up 19.04%. The company report on January 5, 2022 that Dave and VPC Impact Acquisition Holdings III, Inc. Announce Closing of Business Combination.

Dave to Trade on The Nasdaq Global Market Under the Symbol “DAVE”.

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Dave Inc. (“Dave”), a banking app on a mission to build products that level the financial playing field, and VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC) (“VPCC”), a publicly-traded special purpose acquisition company announced today that they had completed their previously announced business combination (the “Business Combination”). The Business Combination was approved by VPCC’s stockholders on January 4, 2022.

Dave Inc. stock is now -39.61% down from its year-to-date (YTD) trading value. DAVE Stock saw the intraday high of $7.4899 and lowest of $5.10 per share. The company’s 52-week high price is 10.37, which means current price is +33.98% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 184.33K shares, DAVE reached a trading volume of 13597805 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Dave Inc. [DAVE]?

The Average True Range (ATR) for Dave Inc. is set at 0.82, with the Price to Sales ratio for DAVE stock in the period of the last 12 months amounting to 12.37.

How has DAVE stock performed recently?

Dave Inc. [DAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.43. With this latest performance, DAVE shares dropped by -37.85% in over the last four-week period, additionally sinking by -37.47% over the last 6 months .

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 DAVE stock in for the last two-week period is set at 31.37, with the RSI for the last a single of trading hit 33.88, and the three-weeks RSI is set at 30.40 for Dave Inc. [DAVE]. The present Moving Average for the last 50 days of trading for this stock 9.38, while it was recorded at 5.45 for the last single week of trading.

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Insider trade positions for Dave Inc. [DAVE]

There are presently around $122 million, or 93.51% of DAVE stock, in the hands of institutional investors. The top three institutional holders of DAVE stocks are: MAGNETAR FINANCIAL LLC with ownership of 2,252,328, which is approximately New of the company’s market cap and around 3.04% of the total institutional ownership; CORBIN CAPITAL PARTNERS, L.P., holding 2,227,495 shares of the stock with an approximate value of $11.58 million in DAVE stocks shares; and ARISTEIA CAPITAL LLC, currently with $8.37 million in DAVE stock with ownership of nearly 0% of the company’s market capitalization.

34 institutional holders increased their position in Dave Inc. [NASDAQ:DAVE] by around 8,114,772 shares. Additionally, 13 investors decreased positions by around 1,806,752 shares, while 24 investors held positions by with 13,622,863 shares. The mentioned changes placed institutional holdings at 23,544,387 shares, according to the latest SEC report filing. DAVE stock had 16 new institutional investments in for a total of 5,700,289 shares, while 7 institutional investors sold positions of 1,612,023 shares during the same period.