Latch Inc. [LTCH] Revenue clocked in at $48.40 million, down -85.87% YTD: What’s Next?

Latch Inc. [NASDAQ: LTCH] closed the trading session at $1.07 on 08/31/22. The day’s price range saw the stock hit a low of $1.00, while the highest price level was $1.09. The company report on August 12, 2022 that Latch receives expected Nasdaq notification of non-compliance.

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Latch, Inc. (NASDAQ: LTCH), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today announced that on August 11, 2022, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it did not comply with Nasdaq’s Listing Rule 5250(c)(1) for continued listing because the Company had not filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 (the “Form 10-Q”) by the required due date.

The Company previously disclosed its inability to timely file the Form 10-Q in its Notification of Late Filing on Form 12b-25 filed with the Securities and Exchange Commission on August 10, 2022.   Nasdaq informed the Company that it has until October 10, 2022 to submit a plan to regain compliance with respect to the filing of the Form 10-Q. If Nasdaq approves the Company’s plan, it may grant the Company an extension of up to 180 calendar days from the due date of the Form 10-Q to regain compliance.

The stocks have a year to date performance of -85.87 percent and weekly performance of -3.60 percent. The stock has been moved at -71.77 percent over the last six months. The stock has performed -2.73 percent around the most recent 30 days and changed -48.80 percent over the most recent 3-months.

If compared to the average trading volume of 1.97M shares, LTCH reached to a volume of 4270003 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Latch Inc. [LTCH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LTCH shares is $3.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LTCH stock is a recommendation set at 2.60. 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.

Keefe Bruyette have made an estimate for Latch Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on July 25, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Neutral. The new note on the price target was released on July 22, 2022, representing the official price target for Latch Inc. stock. Previously, the target price had yet another drop from $16 to $5, while Cantor Fitzgerald kept a Neutral rating on LTCH stock.

The Average True Range (ATR) for Latch Inc. is set at 0.10, with the Price to Sales ratio for LTCH stock in the period of the last 12 months amounting to 3.65. The Price to Book ratio for the last quarter was 0.44, with the Price to Cash per share for the same quarter was set at 1.60.

LTCH stock trade performance evaluation

Latch Inc. [LTCH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.60. With this latest performance, LTCH shares dropped by -2.73% in over the last four-week period, additionally sinking by -71.77% over the last 6 months – not to mention a drop of -91.38% 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 LTCH stock in for the last two-week period is set at 45.57, with the RSI for the last a single of trading hit 47.45, and the three-weeks RSI is set at 43.43 for Latch Inc. [LTCH]. The present Moving Average for the last 50 days of trading for this stock 1.1750, while it was recorded at 1.0275 for the last single week of trading, and 3.9856 for the last 200 days.

Latch Inc. [LTCH]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Latch Inc. [LTCH] shares currently have an operating margin of -326.49 and a Gross Margin at -14.31. Latch Inc.’s Net Margin is presently recorded at -402.13.

Return on Equity for this stock declined to -51.81, with Return on Assets sitting at -44.11.

Latch Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.50 and a Current Ratio set at 8.00.

Earnings per share (EPS) analysis for Latch Inc. [LTCH] stock

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 LTCH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Latch Inc. go to 49.70%.

Latch Inc. [LTCH]: Insider Ownership positions

There are presently around $68 million, or 51.80% of LTCH stock, in the hands of institutional investors. The top three institutional holders of LTCH stocks are: AVENIR MANAGEMENT COMPANY, LLC with ownership of 21,435,551, which is approximately 0% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 6,761,253 shares of the stock with an approximate value of $7.24 million in LTCH stocks shares; and BLACKROCK INC., currently with $6.47 million in LTCH stock with ownership of nearly 55.711% of the company’s market capitalization.

Positions in Latch Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 64 institutional holders increased their position in Latch Inc. [NASDAQ:LTCH] by around 15,337,193 shares. Additionally, 48 investors decreased positions by around 32,697,683 shares, while 9 investors held positions by with 15,649,562 shares. The mentioned changes placed institutional holdings at 63,684,438 shares, according to the latest SEC report filing. LTCH stock had 33 new institutional investments in for a total of 7,187,849 shares, while 27 institutional investors sold positions of 18,218,133 shares during the same period.


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