Market cap of Eargo Inc. [EAR] reaches 233.83M – now what?

Eargo Inc. [NASDAQ: EAR] loss -0.80% or 0.0 points to close at $0.56 with a heavy trading volume of 283199 shares. The company report on December 12, 2022 that Eargo and NationsBenefits Announce Strategic Partnership.

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NationsBenefits to Sell Eargo Hearing Aids Over-The-Counter (OTC) beginning January 1, 2023.

It opened the trading session at $0.555, the shares rose to $0.56 and dropped to $0.535, the range by which the price of stock traded the whole day. The daily chart for EAR points out that the company has recorded -46.73% loss over the past six months. However, it is still -16.67% lower than its most recent low trading price.

If we look at the average trading volume of 1.27M shares, EAR reached to a volume of 283199 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 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 6.80.

Trading performance analysis for EAR stock

Eargo Inc. [EAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.83. With this latest performance, EAR shares gained by 11.86% in over the last four-week period, additionally sinking by -46.73% over the last 6 months – not to mention a drop of -89.39% 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 42.89, with the RSI for the last a single of trading hit 39.76, and the three-weeks RSI is set at 42.93 for Eargo Inc. [EAR]. The present Moving Average for the last 50 days of trading for this stock 0.6085, while it was recorded at 0.5818 for the last single week of trading, and 1.7203 for the last 200 days.

Eargo Inc. [EAR]: A deeper dive into fundamental analysis

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 0.60 and a Current Ratio set at 0.70.

An analysis of insider ownership at Eargo Inc. [EAR]

There are presently around $7 million, or 3.80% 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 0.20% of the total institutional ownership; NAN FUNG GROUP HOLDINGS LTD, holding 2,886,724 shares of the stock with an approximate value of $1.61 million in EAR stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $0.59 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.

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