Dave Inc. [NASDAQ: DAVE] loss -22.32% or -0.19 points to close at $0.67 with a heavy trading volume of 14998021 shares. The company report on August 11, 2022 that Dave Reports Second Quarter 2022 Results.
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Achieves Record Quarterly Non-GAAP Operating Revenue and Monthly Transacting Members in Q2 2022.
Dave Inc. (Nasdaq: DAVE, DAVEW) (“Dave”), a banking app on a mission to build products that level the financial playing field, today reported its financial results for the second quarter ended June 30, 2022.
It opened the trading session at $0.6821, the shares rose to $0.7295 and dropped to $0.60, the range by which the price of stock traded the whole day. The daily chart for DAVE points out that the company has recorded -93.47% loss over the past six months. However, it is still -24.07% lower than its most recent low trading price.
If we look at the average trading volume of 5.84M shares, DAVE reached to a volume of 14998021 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 $0.65 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 0.13, with the Price to Sales ratio for DAVE stock in the period of the last 12 months amounting to 1.99. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.63.
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 -14.47. With this latest performance, DAVE shares gained by 14.64% in over the last four-week period, additionally sinking by -93.47% over the last 6 months – not to mention a drop of -93.26% 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 43.01, with the RSI for the last a single of trading hit 44.72, and the three-weeks RSI is set at 39.16 for Dave Inc. [DAVE]. The present Moving Average for the last 50 days of trading for this stock 0.8517, while it was recorded at 0.7371 for the last single week of trading, and 5.6648 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 $19 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 $3.1 million in DAVE stocks shares; and BLACKROCK INC., currently with $1.55 million in DAVE stock with ownership of nearly 1.137% of the company’s market capitalization.
27 institutional holders increased their position in Dave Inc. [NASDAQ:DAVE] by around 16,584,879 shares. Additionally, 38 investors decreased positions by around 11,125,907 shares, while 4 investors held positions by with 532,595 shares. The mentioned changes placed institutional holdings at 28,243,381 shares, according to the latest SEC report filing. DAVE stock had 18 new institutional investments in for a total of 15,646,441 shares, while 27 institutional investors sold positions of 8,276,651 shares during the same period.