QualTek Services Inc. (NASDAQ: QTEK) is -77.99% lower on its value in year-to-date trading and has touched a low of $0.10 and a high of $2.68 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 QTEK stock was last observed hovering at around $0.10 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $3.75 for the next 12 months. It is also 97.5% off the consensus price target high of $4.00 offered by 1 analysts, but current levels are 97.14% higher than the price target low of $3.50 for the same period.
Currently trading at $0.10, the stock is -52.21% and -65.46% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.5 million and changing -7.62% at the moment leaves the stock -88.89% off its SMA200. QTEK registered -93.07% loss for a year compared to 6-month loss of -89.55%. The firm has a 50-day simple moving average (SMA 50) of $0.82 and a 200-day simple moving average (SMA200) of $47.84.
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The stock witnessed a -59.58% gain in the last 1 month and extending the period to 3 months gives it a -77.34%, and is -46.29% 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 20.77% over the week and 15.77% over the month.
QualTek Services Inc. (QTEK) has around 1947 employees, a market worth around $4.99M and $753.90M in sales. Profit margin for the company is -4.80%. Distance from 52-week low is -6.46% and -96.38% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.00%).
QualTek Services Inc. (QTEK) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for QualTek Services Inc. (QTEK) is a “Hold”. 1 analysts offering their recommendations for the stock have an average rating of 3.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
QualTek Services Inc. is expected to release its quarterly report on 08/08/2023.The EPS is expected to shrink by -397.30% this year
QualTek Services Inc. (QTEK) Top Institutional Holders
The shares outstanding are 24.68M, and float is at 15.00M with Short Float at 3.39%.
QualTek Services Inc. (QTEK) Insider Activity
A total of 0 insider transactions have happened at QualTek Services Inc. (QTEK) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider purchase by SPITTLER ADAM PAUL, the company’s Chief Financial Officer. SEC filings show that SPITTLER ADAM PAUL bought 5,500 shares of the company’s common stock on Aug 19 at a price of $1.91 per share for a total of $10505.0. Following the purchase, the insider now owns 12750.0 shares.
QualTek Services Inc. disclosed in a document filed with the SEC on Jun 16 that SPITTLER ADAM PAUL (Chief Financial Officer) bought a total of 7,250 shares of the company’s common stock. The trade occurred on Jun 16 and was made at $1.50 per share for $10875.0. Following the transaction, the insider now directly holds 7250.0 shares of the QTEK stock.
Still, SEC filings show that on Jun 15, Hisey Christopher Scott (Chief Executive Officer) acquired 5,000 shares at an average price of $1.35 for $6750.0. The insider now directly holds 15,000 shares of QualTek Services Inc. (QTEK).
