Methode Electronics, Inc. (NYSE: MEI) is -46.19% lower on its value in year-to-date trading and has touched a low of $11.26 and a high of $46.58 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 MEI stock was last observed hovering at around $12.00 in the last trading session, with the day’s gains setting it 0.23%.
Currently trading at $12.23, the stock is -30.28% and -37.86% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.01 million and changing 1.92% at the moment leaves the stock -52.88% off its SMA200. MEI registered -70.46% loss for a year compared to 6-month loss of -45.01%. The firm has a 50-day simple moving average (SMA 50) of $0.59 and a 200-day simple moving average (SMA200) of $53.82.
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The stock witnessed a -44.89% gain in the last 1 month and extending the period to 3 months gives it a -44.51%, and is -7.07% 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 7.58% over the week and 5.74% over the month.
Methode Electronics, Inc. (MEI) has around 6700 employees, a market worth around $432.82M and $1.14B in sales. Fwd P/E is 96.55. Profit margin for the company is -5.09%. Distance from 52-week low is 8.61% and -73.74% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.88%).
Methode Electronics, Inc. quarterly earnings per share for the current quarter are estimated at -$0.15 with sales reaching $261.33M over the same period.The EPS is expected to shrink by -143.97% this year, but quarterly earnings will post -6.90% year-over-year. Quarterly sales are estimated to shrink -13.20% in year-over-year returns.
272 institutions hold shares in Methode Electronics, Inc. (MEI), with institutional investors hold 103.94% of the company’s shares. The shares outstanding are 35.82M, and float is at 33.09M with Short Float at 3.22%. Institutions hold 98.68% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 5.94 million shares valued at $72.6 million. The investor’s holdings represent 16.77% of the MEI Shares outstanding. As of Dec 30, 2023, the second largest holder is FMR, LLC with 5.13 million shares valued at $62.73 million to account for 14.49% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 4.65 million shares representing 13.14% and valued at over $56.85 million, while Dimensional Fund Advisors LP holds 5.41% of the shares totaling 1.91 million with a market value of $23.41 million.
Methode Electronics, Inc. (MEI) Insider Activity
The most recent transaction is an insider purchase by DUDA DONALD W, the company’s Chief Executive Officer. SEC filings show that DUDA DONALD W bought 23,245 shares of the company’s common stock on Sep 21 ’23 at a price of $21.80 per share for a total of $0.51 million. Following the purchase, the insider now owns 23245.0 shares.
Methode Electronics, Inc. disclosed in a document filed with the SEC on Sep 20 ’23 that ASPATORE WALTER J (Director) bought a total of 1,000 shares of the company’s common stock. The trade occurred on Sep 20 ’23 and was made at $22.50 per share for $22500.0. Following the transaction, the insider now directly holds 19000.0 shares of the MEI stock.
