Dave Inc. [DAVE] Stock trading around $0.56 per share: What’s Next?


Dave Inc. [NASDAQ: DAVE] loss -1.70% or -0.01 points to close at $0.56 with a heavy trading volume of 3155341 shares. The company report on July 12, 2022 that Americans Cancel Summer Vacations.

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Survey from Dave, finds that 70% of Americans simply can’t afford to participate in summer trips and activities.

Younger workers are willing to take advantage of a good job market and get a side hustle to battle inflation and FOMO.

It opened the trading session at $0.545, the shares rose to $0.6235 and dropped to $0.54, the range by which the price of stock traded the whole day. The daily chart for DAVE points out that the company has recorded -88.97% loss over the past six months. However, it is still -3.7% lower than its most recent low trading price.

If we look at the average trading volume of 1.56M shares, DAVE reached to a volume of 3155341 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 Dave Inc. [DAVE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DAVE shares is $2.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DAVE stock is a recommendation set at 3.00. 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.

Jefferies have made an estimate for Dave Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 25, 2022.

The Average True Range (ATR) for Dave Inc. is set at 0.14, with the Price to Sales ratio for DAVE stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.77.

Trading performance analysis for DAVE stock

Dave Inc. [DAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.59. With this latest performance, DAVE shares dropped by -43.39% in over the last four-week period, additionally sinking by -88.97% over the last 6 months – not to mention a drop of -94.33% 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 DAVE stock in for the last two-week period is set at 19.32, with the RSI for the last a single of trading hit 15.03, and the three-weeks RSI is set at 24.44 for Dave Inc. [DAVE]. The present Moving Average for the last 50 days of trading for this stock 1.7213, while it was recorded at 0.6153 for the last single week of trading, and 6.6823 for the last 200 days.

Dave Inc. [DAVE]: A deeper dive into fundamental analysis

Dave Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.40 and a Current Ratio set at 6.40.

An analysis of insider ownership at Dave Inc. [DAVE]

There are presently around $16 million, or 14.40% of DAVE stock, in the hands of institutional investors. The top three institutional holders of DAVE stocks are: TIGER GLOBAL MANAGEMENT LLC with ownership of 13,844,459, which is approximately New of the company’s market cap and around 1.40% of the total institutional ownership; CORBIN CAPITAL PARTNERS, L.P., holding 4,647,411 shares of the stock with an approximate value of $2.65 million in DAVE stocks shares; and BLACKROCK INC., currently with $1.31 million in DAVE stock with ownership of nearly New of the company’s market capitalization.

33 institutional holders increased their position in Dave Inc. [NASDAQ:DAVE] by around 23,026,775 shares. Additionally, 42 investors decreased positions by around 13,272,071 shares, while 2 investors held positions by with 8,129,979 shares. The mentioned changes placed institutional holdings at 28,168,867 shares, according to the latest SEC report filing. DAVE stock had 31 new institutional investments in for a total of 22,283,162 shares, while 34 institutional investors sold positions of 10,776,574 shares during the same period.