PARTS iD Inc [ID] stock Downgrade by Canaccord Genuity analyst, price target now $3

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PARTS iD Inc [AMEX: ID] gained 34.29% on the last trading session, reaching $0.14 price per share at the time. The company report on November 2, 2023 at 4:27 PM that PARTS iD Receives Notice of Non-compliance from NYSE American.

PARTS iD, Inc. (NYSE American: ID) (“PARTS iD” or “the Company”) today announced that it has received written notice (the “Notice”) from the NYSE American LLC (the “NYSE American”) stating that it is not in compliance with the continued listing standard set forth in Section 1003(f)(v) of the NYSE American Company Guide (the “Company Guide”) because the Company’s common stock was selling for a substantial period of time at a low price per share.

The Notice stated that the Company’s continued listing is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable period of time, which NYSE American has determined to be no later than April 27, 2024. However, NYSE American may take an accelerated delisting action that would pre-empt the cure period in the event that the common stock trades at a level viewed to be abnormally low.

PARTS iD Inc represents 34.83 million in outstanding shares, while the company has a total market value of $4.95 million with the latest information. ID stock price has been found in the range of $0.10 to $0.15.

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If compared to the average trading volume of 491.06K shares, ID reached a trading volume of 13371126 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 PARTS iD Inc [ID]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ID shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ID 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.

Canaccord Genuity have made an estimate for PARTS iD Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 10, 2022.

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The Average True Range (ATR) for PARTS iD Inc is set at 0.03, with the Price to Sales ratio for ID stock in the period of the last 12 months amounting to 0.03.

Trading performance analysis for ID stock

PARTS iD Inc [ID] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.72. With this latest performance, ID shares dropped by -6.00% in over the last four-week period, additionally sinking by -71.15% over the last 6 months – not to mention a drop of -90.14% 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 ID stock in for the last two-week period is set at 47.13, with the RSI for the last a single of trading hit 53.77, and the three-weeks RSI is set at 43.93 for PARTS iD Inc [ID]. The present Moving Average for the last 50 days of trading for this stock 0.1908, while it was recorded at 0.1132 for the last single week of trading, and 0.3590 for the last 200 days.

PARTS iD Inc [ID]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and PARTS iD Inc [ID] shares currently have an operating margin of -4.58 and a Gross Margin at +16.26. PARTS iD Inc’s Net Margin is presently recorded at -5.26.

Reflecting on the efficiency of the workforce at the company, PARTS iD Inc [ID] managed to generate an average of -$275,752 per employee. Receivables Turnover for the company is 195.32 with a Total Asset Turnover recorded at a value of 8.17.PARTS iD Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.06 and a Current Ratio set at 0.12.

An analysis of Institutional ownership at PARTS iD Inc [ID]

The top three institutional holders of ID stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ID stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ID stock with ownership which is approximately 5.7994%.

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