INNOVATE Corp. (NYSE: VATE) is -70.27% lower on its value in year-to-date trading and has touched a low of $0.64 and a high of $4.37 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 VATE stock was last observed hovering at around $1.02 in the last trading session, with the day’s gains setting it 0.08% off its average median price target of $5.00 for the next 12 months. It is also 78.0% off the consensus price target high of $5.00 offered by 1 analysts, but current levels are 78.0% higher than the price target low of $5.00 for the same period.
Currently trading at $1.10, the stock is 25.49% and 24.66% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.24 million and changing 7.84% at the moment leaves the stock -49.11% off its SMA200. VATE registered -74.65% loss for a year compared to 6-month loss of -54.17%.
The stock witnessed a 34.15% gain in the last 1 month and extending the period to 3 months gives it a -31.25%, and is 5.77% up 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 6.69% over the week and 7.88% over the month.
INNOVATE Corp. (VATE) has around 3902 employees, a market worth around $86.21M and $1.62B in sales. Profit margin for the company is -2.40%. Distance from 52-week low is 72.44% and -74.83% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.30%).
INNOVATE Corp. (VATE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for INNOVATE Corp. (VATE) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
INNOVATE Corp. is expected to release its quarterly report on 03/08/2023.The EPS is expected to shrink by -10.30% this year
INNOVATE Corp. (VATE) Top Institutional Holders
The shares outstanding are 77.60M, and float is at 48.35M with Short Float at 3.71%.
INNOVATE Corp. (VATE) Insider Activity
A total of 2 insider transactions have happened at INNOVATE Corp. (VATE) in the last six months, with sales accounting for 1 and purchases happening 1 times. The most recent transaction is an insider purchase by Sena Michael J., the company’s Chief Financial Officer. SEC filings show that Sena Michael J. bought 5,000 shares of the company’s common stock on Nov 15 at a price of $0.97 per share for a total of $4845.0. Following the purchase, the insider now owns 0.66 million shares.
INNOVATE Corp. disclosed in a document filed with the SEC on Nov 14 that Sena Michael J. (Chief Financial Officer) bought a total of 10,000 shares of the company’s common stock. The trade occurred on Nov 14 and was made at $0.97 per share for $9675.0. Following the transaction, the insider now directly holds 0.66 million shares of the VATE stock.
Still, SEC filings show that on Nov 14, BARR WAYNE JR (President and CEO) acquired 10,000 shares at an average price of $0.93 for $9299.0. The insider now directly holds 352,185 shares of INNOVATE Corp. (VATE).
INNOVATE Corp. (VATE): Who are the competitors?
The company’s main competitors (and peers) include Cogent Communications Holdings Inc. (CCOI) that is trading -25.52% down over the past 12 months and 8×8 Inc. (EGHT) that is -79.82% lower over the same period. IDT Corporation (IDT) is -56.42% down on the 1-year trading charts.