EQRx Inc. [NASDAQ: EQRX] price plunged by -1.91 percent to reach at -$0.04. The company report on February 23, 2023 that EQRx Reports Fourth Quarter and Full Year 2022 Financial Results and Recent Corporate Progress.
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A sum of 2768470 shares traded at recent session while its average daily volume was at 3.47M shares. EQRx Inc. shares reached a high of $2.085 and dropped to a low of $1.91 until finishing in the latest session at $2.05.
The one-year EQRX stock forecast points to a potential upside of 49.63. The average equity rating for EQRX stock is currently 3.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $4.07 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 3.00. 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 0.13 The Price to Book ratio for the last quarter was 0.70, with the Price to Cash per share for the same quarter was set at 2.76.
EQRX Stock Performance Analysis:
EQRx Inc. [EQRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.76. With this latest performance, EQRX shares dropped by -10.09% in over the last four-week period, additionally sinking by -61.90% over the last 6 months – not to mention a drop of -48.36% 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 37.77, with the RSI for the last a single of trading hit 34.94, and the three-weeks RSI is set at 39.18 for EQRx Inc. [EQRX]. The present Moving Average for the last 50 days of trading for this stock 2.36, while it was recorded at 2.08 for the last single week of trading, and 3.98 for the last 200 days.
Insight into EQRx Inc. Fundamentals:
Return on Equity for this stock declined to -11.65, with Return on Assets sitting at -10.62.
EQRx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 27.50 and a Current Ratio set at 27.50.
EQRx Inc. [EQRX] Insider Position Details
There are presently around $899 million, or 79.10% of EQRX stock, in the hands of institutional investors. The top three institutional holders of EQRX stocks are: ALPHABET INC. with ownership of 47,675,476, which is approximately 0.258% of the company’s market cap and around 10.98% of the total institutional ownership; SB MANAGEMENT LTD, holding 43,176,600 shares of the stock with an approximate value of $88.51 million in EQRX stocks shares; and CASDIN CAPITAL, LLC, currently with $81.03 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 Thursday and at the time of the Thursday reporting period, where 67 institutional holders increased their position in EQRx Inc. [NASDAQ:EQRX] by around 34,855,076 shares. Additionally, 47 investors decreased positions by around 26,620,413 shares, while 24 investors held positions by with 377,297,343 shares. The mentioned changes placed institutional holdings at 438,772,832 shares, according to the latest SEC report filing. EQRX stock had 18 new institutional investments in for a total of 2,280,724 shares, while 24 institutional investors sold positions of 9,711,156 shares during the same period.