Dave Inc. [DAVE] Stock trading around $0.49 per share: What’s Next?

Dave Inc. [NASDAQ: DAVE] stock went on an upward path that rose over 1.79% on Wednesday, amounting to a one-week price decrease of less than 0.00%. The company report on September 6, 2022 that Dave Announces the Appointment of Chien-Liang Chou as its New Chief Technology Officer.

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Dave Inc. (NASDAQ: DAVE, DAVEW), a banking app on a mission to build products that level the financial playing field, today announced that Chien-Liang Chou has been named Chief Technology Officer, effective immediately.

Mr. Chou previously served as Executive Vice President of Engineering at Dave, a position he held since 2020. In this role, he led the engineering, data, infrastructure, security and information technology teams, spearheading various data initiatives resulting in greater efficiencies and a better member experience. He has brought to Dave more than 20 years of experience developing software and technology platforms, with significant expertise in infrastructure buildouts, automation, machine learning, and more.

Over the last 12 months, DAVE stock dropped by -95.11%. The average equity rating for DAVE stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $167.67 million, with 371.54 million shares outstanding and 197.97 million shares in the current float. Compared to the average trading volume of 6.33M shares, DAVE stock reached a trading volume of 3061072 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Dave Inc. [DAVE]:

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 0.06, with the Price to Sales ratio for DAVE stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 0.75.

DAVE Stock Performance Analysis:

Dave Inc. [DAVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by 0.00. With this latest performance, DAVE shares dropped by -17.07% in over the last four-week period, additionally sinking by -92.69% over the last 6 months – not to mention a drop of -95.11% 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 40.57, with the RSI for the last a single of trading hit 42.28, and the three-weeks RSI is set at 38.35 for Dave Inc. [DAVE]. The present Moving Average for the last 50 days of trading for this stock 0.6066, while it was recorded at 0.4938 for the last single week of trading, and 4.6250 for the last 200 days.

Insight into Dave Inc. Fundamentals:

Dave Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.00 and a Current Ratio set at 6.00.

Dave Inc. [DAVE] Insider Position Details

There are presently around $11 million, or 12.80% 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 6,322,616, which is approximately -54.331% of the company’s market cap and around 1.50% of the total institutional ownership; CORBIN CAPITAL PARTNERS, L.P., holding 4,647,411 shares of the stock with an approximate value of $2.27 million in DAVE stocks shares; and BLACKROCK INC., currently with $1.14 million in DAVE stock with ownership of nearly 1.137% of the company’s market capitalization.

22 institutional holders increased their position in Dave Inc. [NASDAQ:DAVE] by around 3,441,261 shares. Additionally, 23 investors decreased positions by around 8,260,504 shares, while 7 investors held positions by with 11,454,278 shares. The mentioned changes placed institutional holdings at 23,156,043 shares, according to the latest SEC report filing. DAVE stock had 9 new institutional investments in for a total of 580,485 shares, while 10 institutional investors sold positions of 206,224 shares during the same period.


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