Eargo Inc. [NASDAQ: EAR] jumped around 0.14 points on Monday, while shares priced at $1.37 at the close of the session, up 11.38%. The company report on August 8, 2022 that Eargo Reports Second Quarter 2022 Financial Results.
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Strengthened financial position with up to $125 million strategic investment from Patient Square Capital (the “Note Transaction”); closed first tranche investment of $100 million senior secured convertible notes on June 28, 2022.
Eargo Inc. stock is now -73.14% down from its year-to-date (YTD) trading value. EAR Stock saw the intraday high of $1.50 and lowest of $1.29 per share. The company’s 52-week high price is 37.58, which means current price is +104.45% above from all time high which was touched on 01/06/22.
Compared to the average trading volume of 3.64M shares, EAR reached a trading volume of 20981832 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Eargo Inc. [EAR]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EAR shares is $10.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EAR stock is a recommendation set at 3.30. 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.
William Blair have made an estimate for Eargo Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on September 23, 2021. The new note on the price target was released on September 23, 2021, representing the official price target for Eargo Inc. stock. Previously, the target price had yet another drop from $44 to $11, while JP Morgan kept a Underweight rating on EAR stock.
The Average True Range (ATR) for Eargo Inc. is set at 0.15, with the Price to Sales ratio for EAR stock in the period of the last 12 months amounting to 2.98. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 2.13.
How has EAR stock performed recently?
Eargo Inc. [EAR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 87.67. With this latest performance, EAR shares gained by 52.99% in over the last four-week period, additionally sinking by -72.98% over the last 6 months – not to mention a drop of -96.17% 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 EAR stock in for the last two-week period is set at 68.37, with the RSI for the last a single of trading hit 77.55, and the three-weeks RSI is set at 58.71 for Eargo Inc. [EAR]. The present Moving Average for the last 50 days of trading for this stock 1.0371, while it was recorded at 1.1681 for the last single week of trading, and 3.9767 for the last 200 days.
Eargo Inc. [EAR]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Eargo Inc. [EAR] shares currently have an operating margin of -487.85 and a Gross Margin at +12.97. Eargo Inc.’s Net Margin is presently recorded at -491.11.
Return on Equity for this stock declined to -119.93, with Return on Assets sitting at -80.33.
Eargo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.
Insider trade positions for Eargo Inc. [EAR]
There are presently around $29 million, or 61.90% of EAR stock, in the hands of institutional investors. The top three institutional holders of EAR stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 4,520,670, which is approximately 0% of the company’s market cap and around 13.68% of the total institutional ownership; NAN FUNG GROUP HOLDINGS LTD, holding 2,886,724 shares of the stock with an approximate value of $3.96 million in EAR stocks shares; and NEWTYN MANAGEMENT, LLC, currently with $2.67 million in EAR stock with ownership of nearly 56% of the company’s market capitalization.
Positions in Eargo Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 34 institutional holders increased their position in Eargo Inc. [NASDAQ:EAR] by around 3,519,517 shares. Additionally, 54 investors decreased positions by around 2,952,226 shares, while 12 investors held positions by with 14,597,023 shares. The mentioned changes placed institutional holdings at 21,068,766 shares, according to the latest SEC report filing. EAR stock had 11 new institutional investments in for a total of 445,682 shares, while 24 institutional investors sold positions of 1,043,305 shares during the same period.