Eargo Inc. [EAR] Stock trading around $0.89 per share: What’s Next?

Eargo Inc. [NASDAQ: EAR] traded at a high on 10/18/22, posting a 30.48 gain after which it closed the day’ session at $0.89. The company report on October 13, 2022 that Eargo Announces Record Date for Proposed Rights Offering.

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Record Date established as October 24, 2022.

To be a stockholder of record, investors are advised to own EAR stock by 4:00 p.m. Eastern Time on Thursday, October 20, 2022 to account for T (trade) +2 settlement timing.

The results of the trading session contributed to over 4093943 shares changing hands. Over the past one week, the price volatility of Eargo Inc. stands at 15.79% while the volatility over the past one month is 13.83%.

The market cap for EAR stock reached $36.33 million, with 39.36 million shares outstanding and 34.10 million shares in the current float. Compared to the average trading volume of 8.90M shares, EAR reached a trading volume of 4093943 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 $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 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 0.12, with the Price to Sales ratio for EAR stock in the period of the last 12 months amounting to 10.09. The Price to Book ratio for the last quarter was 3.07, with the Price to Cash per share for the same quarter was set at 2.61.

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 27.75. With this latest performance, EAR shares dropped by -40.27% in over the last four-week period, additionally sinking by -76.82% over the last 6 months – not to mention a drop of -87.46% 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 39.99, with the RSI for the last a single of trading hit 45.52, and the three-weeks RSI is set at 40.58 for Eargo Inc. [EAR]. The present Moving Average for the last 50 days of trading for this stock 1.4772, while it was recorded at 0.7336 for the last single week of trading, and 2.7451 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 1.00 and a Current Ratio set at 1.00.

Insider trade positions for Eargo Inc. [EAR]

There are presently around $13 million, or 49.60% 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 4,520,849, which is approximately 0.004% of the company’s market cap and around 0.90% of the total institutional ownership; NAN FUNG GROUP HOLDINGS LTD, holding 2,886,724 shares of the stock with an approximate value of $2.57 million in EAR stocks shares; and NEWTYN MANAGEMENT, LLC, currently with $1.17 million in EAR stock with ownership of nearly -32.715% of the company’s market capitalization.

Positions in Eargo Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 30 institutional holders increased their position in Eargo Inc. [NASDAQ:EAR] by around 2,603,375 shares. Additionally, 58 investors decreased positions by around 8,736,976 shares, while 8 investors held positions by with 3,625,987 shares. The mentioned changes placed institutional holdings at 14,966,338 shares, according to the latest SEC report filing. EAR stock had 17 new institutional investments in for a total of 1,695,782 shares, while 32 institutional investors sold positions of 4,004,236 shares during the same period.


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