298 institutions hold shares in Switch Inc. (SWCH), with 30.09M shares held by insiders accounting for 23.63% while institutional investors hold 97.64% of the company’s shares. The shares outstanding are 115.18M, and float is at 88.33M with Short Float at 12.05%. Institutions hold 74.56% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 8.05 million shares valued at $131.79 million. The investor’s holdings represent 6.32% of the SWCH Shares outstanding. As of Dec 30, 2020, the second largest holder is Royal Bank of Canada with 6.28 million shares valued at $102.86 million to account for 4.93% of the shares outstanding. The other top investors are Senvest Management LLC which holds 5.76 million shares representing 4.52% and valued at over $94.26 million, while Renaissance Technologies, LLC holds 4.05% of the shares totaling 5.16 million with a market value of $84.42 million.
Switch Inc. (NYSE: SWCH) is -3.54% lower on its value in year-to-date trading and has touched a low of $13.38 and a high of $19.99 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SWCH stock was last observed hovering at around $15.89 in the last trading session, with the day’s loss setting it -0.1% off its average median price target of $20.00 for the next 12 months. It is also 36.84% off the consensus price target high of $25.00 offered by 14 analysts, but current levels are 7.12% higher than the price target low of $17.00 for the same period.
Currently trading at $15.79, the stock is 3.56% and -5.90% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.24 million and changing -0.63% at the moment leaves the stock -4.60% off its SMA200. SWCH registered 13.27% gain for a year compared to 6-month gain of 3.07%. The firm has a 50-day simple moving average (SMA 50) of $16.49 and a 200-day simple moving average (SMA200) of $16.06.
The stock witnessed a -8.94% loss in the last 1 month and extending the period to 3 months gives it a -3.31%, and is -0.88% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.18% over the week and 3.56% over the month.
Switch Inc. (SWCH) has around 759 employees, a market worth around $3.73B and $511.50M in sales. Current P/E ratio is 116.96 and Fwd P/E is 65.52. Profit margin for the company is 3.00%. Distance from 52-week low is 18.01% and -21.01% from its 52-week high. The company has generated returns on investments over the last 12 months (6.90%).
Switch Inc. (SWCH) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Switch Inc. (SWCH) is a “Overweight”. 14 analysts offering their recommendations for the stock have an average rating of 1.90, where 3 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Switch Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $128.99M over the same period.The EPS is expected to grow by 27.90% this year, but quarterly earnings will post 6.90% year-over-year.
Switch Inc. (SWCH) Insider Activity
A total of 50 insider transactions have happened at Switch Inc. (SWCH) in the last six months, with sales accounting for 28 and purchases happening 22 times. The most recent transaction is an insider sale by Roy Rob, the company’s Chief Executive Officer. SEC filings show that Roy Rob sold 100,000 shares of the company’s common stock on Mar 01 at a price of $17.58 per share for a total of $1.76 million. Following the sale, the insider now owns 0.61 million shares.
Switch Inc. disclosed in a document filed with the SEC on Feb 16 that Thomas Thomas A (Director) sold a total of 53,750 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $18.59 per share for $1.0 million. Following the transaction, the insider now directly holds 2.07 million shares of the SWCH stock.
Still, SEC filings show that on Jan 22, Thomas Thomas A (Director) disposed off 38,090 shares at an average price of $16.50 for $0.63 million. The insider now directly holds 2,121,569 shares of Switch Inc. (SWCH).
Switch Inc. (SWCH): Who are the competitors?
The company’s main competitors (and peers) include NETGEAR Inc. (NTGR) that is 94.01% higher over the past 12 months. Short interest in the company’s stock has risen 45.54% from the last report on Feb 11, 2021 to stand at a total of 5.8 million short shares sold with a short interest ratio of 3.59.