In the last trading session, 1,038,878 Eargo, Inc. (NASDAQ:EAR) shares changed hands as the company’s beta touched 0. With the company’s per share price at $34.61 changed hands at -$0.93 or -0.03% during last session, the market valuation stood at $1.34 Billion. EAR’s last price was a discount, traded about -121.76% off its 52-week high of $76.75. The share price had its 52-week low at $30.71, which suggests the last value was 11.27% up since then. When we look at Eargo, Inc.’s average trading volume, we note the 10-day average is 429.98 Million shares, with the 3-month average coming to 611.57 Million.
Analysts gave the Eargo, Inc. (EAR) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.5. If we narrow down to specifics, the data shows that none out of 4 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended EAR as a Hold, 4 felt it is a Buy and none rated the stock as Underweight. Eargo, Inc.’s EPS for the current quarter is expected to be -$0.26.
Although EAR has turned red as seen at the end of in last trading. With action -2.62%, the performance over the past five days has been red. The jump to weekly highs of $39.09 on Wednesday, Jul 07 added 11.46% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.23%, with the 5-day performance at -0.1% in the red. However, in the 30-day time frame, Eargo, Inc. (NASDAQ:EAR) is -0.08% down. Looking at the short shares, we see there were 2.9 Million shares sold at short interest cover period of 0 days.
The consensus price target for the stock as assigned by Wall Street analysts is $58, meaning bulls need an upside of 67.58% from its current market value. According to analyst projections, EAR’s forecast low is $52 with $70 as the target high. To hit the forecast high, the stock’s price needs a +102.25% upsurge from its current level, while the stock would need to tank 50.25% for it to hit the projected low.
Eargo, Inc. (EAR) estimates and forecasts
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Eargo, Inc. earnings to decrease by -51.6%, but the outlook for the next 5-year period is at 59.2% per year.
Eargo, Inc. (NASDAQ:EAR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 12.82% of Eargo, Inc. shares while 77.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.11%. There are 134 institutions holding the Eargo, Inc. stock share, with NEA Management Company, LLC the top institutional holder. As of Mar 30, 2021, the company held 16.84% of the shares, roughly 6.52 Million EAR shares worth $325.72 Million.
AllianceBernstein, L.P. holds the second largest percentage of outstanding shares, with 3.38% or 1.31 Million shares worth $65.38 Million as of Mar 30, 2021.
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Among Mutual Funds, the top two as of Apr 29, 2021 were Alger Small Cap Focus Fund and AB Cap Fd.-AB Small Cap Growth Port. With 1232821 shares estimated at $70.57 Million under it, the former controlled 3.18% of total outstanding shares. On the other hand, AB Cap Fd.-AB Small Cap Growth Port held about 2.13% of the shares, roughly 823.7 Thousand shares worth around $28.02 Million.