Flex Ltd. [FLEX] Is Currently -1.37 below its 200 Period Moving Avg: What Does This Mean?


Flex Ltd. [NASDAQ: FLEX] loss -1.37% or -0.25 points to close at $18.04 with a heavy trading volume of 3924552 shares. The company report on January 6, 2022 that Flex Announces Date for Third Quarter Fiscal 2022 Earnings Call.

Flex (NASDAQ: FLEX) will announce its third quarter fiscal year 2022 financial results after the market closes on Wednesday, January 26, 2022. The company will hold a conference call to discuss the results on the same day at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).

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The dial-in number for the conference call is 877-201-0168 with passcode Q3Flex. The live webcast of the call and accompanying slides will be available on the Flex Investor Relations (IR) website located at investors.flex.com. An audio replay and transcript will also be available on the IR website after the call.

It opened the trading session at $18.47, the shares rose to $18.53 and dropped to $17.99, the range by which the price of stock traded the whole day. The daily chart for FLEX points out that the company has recorded 10.74% gains over the past six months. However, it is still -16.31% lower than its most recent low trading price.

If we look at the average trading volume of 3.76M shares, FLEX reached to a volume of 3924552 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Flex Ltd. [FLEX]:

Cross Research have made an estimate for Flex Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 06, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $21 to $22. The new note on the price target was released on February 26, 2021, representing the official price target for Flex Ltd. stock. Previously, the target price had yet another raise to $17, while JP Morgan analysts kept a Neutral rating on FLEX stock. On October 16, 2020, analysts increased their price target for FLEX shares from 12 to 16.

The Average True Range (ATR) for Flex Ltd. is set at 0.55, with the Price to Sales ratio for FLEX stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 2.47, with the Price to Cash per share for the same quarter was set at 5.12. Price to Free Cash Flow for FLEX in the course of the last twelve months was 13.39 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for FLEX stock

Flex Ltd. [FLEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.23. With this latest performance, FLEX shares gained by 7.89% in over the last four-week period, additionally plugging by 10.74% over the last 6 months – not to mention a drop of -3.89% 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 FLEX stock in for the last two-week period is set at 52.06, with the RSI for the last a single of trading hit 51.51, and the three-weeks RSI is set at 51.60 for Flex Ltd. [FLEX]. The present Moving Average for the last 50 days of trading for this stock 17.80, while it was recorded at 18.00 for the last single week of trading, and 17.95 for the last 200 days.

Flex Ltd. [FLEX]: A deeper dive into fundamental analysis

Flex Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.40.

Flex Ltd. [FLEX]: An earnings per share (EPS) analysis

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 FLEX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Flex Ltd. go to 16.20%.

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An analysis of insider ownership at Flex Ltd. [FLEX]

There are presently around $8,249 million, or 99.97% of FLEX stock, in the hands of institutional investors. The top three institutional holders of FLEX stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 57,380,450, which is approximately -1.922% of the company’s market cap and around 0.40% of the total institutional ownership; FMR LLC, holding 48,401,328 shares of the stock with an approximate value of $885.26 million in FLEX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $761.03 million in FLEX stock with ownership of nearly 12.536% of the company’s market capitalization.

Positions in Flex Ltd. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 155 institutional holders increased their position in Flex Ltd. [NASDAQ:FLEX] by around 29,418,705 shares. Additionally, 146 investors decreased positions by around 41,275,008 shares, while 66 investors held positions by with 380,329,554 shares. The mentioned changes placed institutional holdings at 451,023,267 shares, according to the latest SEC report filing. FLEX stock had 43 new institutional investments in for a total of 3,561,688 shares, while 47 institutional investors sold positions of 8,394,749 shares during the same period.