Eargo Inc. [NASDAQ: EAR] jumped around 0.16 points on Wednesday, while shares priced at $0.73 at the close of the session, up 27.48%. The company report on December 7, 2022 that Eargo Announces Strategic Additions to Board of Directors Following Patient Square Capital Becoming New Majority Shareholder.
As previously announced, following the completion of the rights offering, Patient Square has the right to nominate a number of directors to the Company’s Board of Directors that is proportionate to its ownership of the Company, and has nominated Karr Narula, Justin Sabet-Peyman, and Trit Garg, M.D. to serve on the Board of Directors (the “Board”), effective today. Mr. Sabet-Peyman will serve as Chair of both the Compensation Committee and the Nominating and Corporate Governance Committee, and Dr. Garg will serve as a member of the Compensation Committee and the Nominating and Corporate Governance Committee.
Eargo Inc. stock is now -85.68% down from its year-to-date (YTD) trading value. EAR Stock saw the intraday high of $0.74 and lowest of $0.58 per share. The company’s 52-week high price is 8.55, which means current price is +52.10% above from all time high which was touched on 01/06/22.
Compared to the average trading volume of 1.26M shares, EAR reached a trading volume of 3093007 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]?
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 0.06, with the Price to Sales ratio for EAR stock in the period of the last 12 months amounting to 0.87.
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 14.94. With this latest performance, EAR shares gained by 29.22% in over the last four-week period, additionally sinking by -55.21% over the last 6 months – not to mention a drop of -86.65% 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 60.42, with the RSI for the last a single of trading hit 69.22, and the three-weeks RSI is set at 52.99 for Eargo Inc. [EAR]. The present Moving Average for the last 50 days of trading for this stock 0.6796, while it was recorded at 0.6191 for the last single week of trading, and 1.9441 for the last 200 days.
Eargo Inc. [EAR]: Deeper insight into the fundamentals
Eargo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.
Insider trade positions for Eargo Inc. [EAR]
There are presently around $9 million, or 39.40% 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% of the company’s market cap and around 2.60% of the total institutional ownership; NAN FUNG GROUP HOLDINGS LTD, holding 2,886,724 shares of the stock with an approximate value of $2.11 million in EAR stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.77 million in EAR stock with ownership of nearly 81.406% 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 25 institutional holders increased their position in Eargo Inc. [NASDAQ:EAR] by around 2,029,983 shares. Additionally, 38 investors decreased positions by around 4,448,511 shares, while 9 investors held positions by with 6,022,527 shares. The mentioned changes placed institutional holdings at 12,501,021 shares, according to the latest SEC report filing. EAR stock had 10 new institutional investments in for a total of 271,039 shares, while 23 institutional investors sold positions of 3,185,840 shares during the same period.