Innovate Corp [NYSE: VATE] stock went on a downward path that fall over -8.77% on Friday, amounting to a one-week price decrease of less than -12.86%. The company report on February 12, 2024 at 4:05 PM that INNOVATE Corp. to Report Fourth Quarter and Full Year 2023 Results on March 4th.
Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the internet and can be accessed by all interested parties through INNOVATE’s Investor Relations website at www.innovate-ir.com. To listen to the live call, please go to the “Investor Relations” section of the Company’s website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the “Investor Relations” portion of the INNOVATE website.
Over the last 12 months, VATE stock dropped by -72.06%. The one-year Innovate Corp stock forecast points to a potential upside of 82.4. The average equity rating for VATE stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $69.73 million, with 78.79 million shares outstanding and 47.41 million shares in the current float. Compared to the average trading volume of 148.88K shares, VATE stock reached a trading volume of 145329 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Innovate Corp [VATE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VATE shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VATE stock is a recommendation set at 1.00. 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.
The Average True Range (ATR) for Innovate Corp is set at 0.09, with the Price to Sales ratio for VATE stock in the period of the last 12 months amounting to 0.05. Price to Free Cash Flow for VATE in the course of the last twelve months was 7.19 with Quick ratio for the last quarter at 0.96.
VATE Stock Performance Analysis:
Innovate Corp [VATE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.86. With this latest performance, VATE shares dropped by -4.34% in over the last four-week period, additionally sinking by -45.67% over the last 6 months – not to mention a drop of -72.06% 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 VATE stock in for the last two-week period is set at 40.27, with the RSI for the last a single of trading hit 37.31, and the three-weeks RSI is set at 41.76 for Innovate Corp [VATE]. The present Moving Average for the last 50 days of trading for this stock 1.0644, while it was recorded at 0.9518 for the last single week of trading, and 1.4356 for the last 200 days.
Insight into Innovate Corp Fundamentals:
Innovate Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 0.99.
VATE Stock EPS
With the latest financial reports released by the company, Innovate Corp posted -0.66/share EPS, while the average EPS was predicted by analysts to be reported at -0.25/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -164.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VATE.
Innovate Corp [VATE] Institutonal Ownership Details
The top three institutional holders of VATE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VATE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VATE stock with ownership which is approximately 5.8325%.
