EQRx Inc. [NASDAQ: EQRX] loss -5.75% on the last trading session, reaching $3.44 price per share at the time.
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EQRx Inc. represents 475.57 million in outstanding shares, while the company has a total market value of $1.78 billion with the latest information. EQRX stock price has been found in the range of $3.18 to $3.60.
If compared to the average trading volume of 2.81M shares, EQRX reached a trading volume of 3044364 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 EQRx Inc. [EQRX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQRX shares is $4.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQRX stock is a recommendation set at 2.20. 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.
JP Morgan have made an estimate for EQRx Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on November 14, 2022. While these analysts kept the previous recommendation, Jefferies dropped their target price from $5.60 to $3.20. The new note on the price target was released on November 11, 2022, representing the official price target for EQRx Inc. stock. Previously, the target price had yet another drop from $8 to $5, while Goldman kept a Neutral rating on EQRX stock.
The Average True Range (ATR) for EQRx Inc. is set at 0.46 The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 2.90.
Trading performance analysis for EQRX stock
EQRx Inc. [EQRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -36.88. With this latest performance, EQRX shares dropped by -37.45% in over the last four-week period, additionally sinking by -26.02% over the last 6 months – not to mention a drop of -65.50% 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 EQRX stock in for the last two-week period is set at 29.42, with the RSI for the last a single of trading hit 21.40, and the three-weeks RSI is set at 34.79 for EQRx Inc. [EQRX]. The present Moving Average for the last 50 days of trading for this stock 4.89, while it was recorded at 3.67 for the last single week of trading, and 4.57 for the last 200 days.
EQRx Inc. [EQRX]: A deeper dive into fundamental analysis
EQRx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 24.30 and a Current Ratio set at 24.30.
An analysis of insider ownership at EQRx Inc. [EQRX]
There are presently around $1,482 million, or 69.00% of EQRX stock, in the hands of institutional investors. The top three institutional holders of EQRX stocks are: ALPHABET INC. with ownership of 47,552,687, which is approximately 0% of the company’s market cap and around 25.21% of the total institutional ownership; SB MANAGEMENT LTD, holding 43,176,600 shares of the stock with an approximate value of $148.53 million in EQRX stocks shares; and SOFTBANK GROUP CORP, currently with $148.53 million in EQRX stock with ownership of nearly 0% of the company’s market capitalization.
Positions in EQRx Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 62 institutional holders increased their position in EQRx Inc. [NASDAQ:EQRX] by around 35,629,244 shares. Additionally, 35 investors decreased positions by around 12,170,013 shares, while 35 investors held positions by with 382,995,457 shares. The mentioned changes placed institutional holdings at 430,794,714 shares, according to the latest SEC report filing. EQRX stock had 21 new institutional investments in for a total of 960,378 shares, while 13 institutional investors sold positions of 5,465,131 shares during the same period.