Innovate Corp (NYSE: VATE) is 3.44% higher on its value in year-to-date trading and has touched a low of $3.25 and a high of $10.80 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The VATE stock was last observed hovering at around $4.88 in the last trading session, with the day’s gains setting it 0.23%.
Currently trading at $5.11, the stock is -0.93% and -1.99% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 45768.0 and changing 4.71% at the moment leaves the stock -7.95% off its SMA200. VATE registered -49.41% loss for a year compared to 6-month loss of -12.92%. The firm has a 50-day simple moving average (SMA 50) of $5.2138 and a 200-day simple moving average (SMA200) of $5.5528.
The stock witnessed a -10.51% gain in the last 1 month and extending the period to 3 months gives it a -17.98%, and is 2.40% 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 5.74% over the week and 7.61% over the month.
Innovate Corp (VATE) has around 4024 employees, a market worth around $67.77M and $1.23B in sales. Profit margin for the company is -2.31%. Distance from 52-week low is 57.23% and -52.69% from its 52-week high. The company has generated returns on investments over the last 12 months (-7.15%).
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Innovate Corp (VATE) Top Institutional Holders
43.0 institutions hold shares in Innovate Corp (VATE), with institutional investors hold 46.49% of the company’s shares. The shares outstanding are 13.17M, and float is at 5.28M with Short Float at 5.70%. Institutions hold 18.80% of the Float.
The top institutional shareholder in the company is JEFFERIES FINANCIAL GROUP INC. with over 7.01 million shares valued at $4.24 million. The investor’s holdings represent 8.9047% of the VATE Shares outstanding. As of 2024-06-30, the second largest holder is GENDELL JEFFREY L with 4.07 million shares valued at $2.46 million to account for 5.17 of the shares outstanding. The other top investors are GOLDMAN SACHS GROUP INC which holds 2.89 million shares representing 3.6756% and valued at over $1.75 million, while VANGUARD GROUP INC holds 3.295 of the shares totaling 2.59 million with a market value of $1.57 million.
Innovate Corp (VATE) Insider Activity
The most recent transaction is an insider purchase by Voigt Paul, the company’s Interim CEO. SEC filings show that Voigt Paul bought 25,000 shares of the company’s common stock on Nov 19 ’24 at a price of $3.98 per share for a total of $99500.0. Following the purchase, the insider now owns 25000.0 shares.
Innovate Corp disclosed in a document filed with the SEC on Sep 12 ’24 that Voigt Paul (Interim CEO) bought a total of 43,785 shares of the company’s common stock. The trade occurred on Sep 12 ’24 and was made at $3.80 per share for $0.17 million. Following the transaction, the insider now directly holds 0.21 million shares of the VATE stock.
Still, SEC filings show that on Jun 14 ’24, Voigt Paul (Interim CEO) acquired 176 shares at an average price of $0.60 for $106.0. The insider now directly holds 1,678,695 shares of Innovate Corp (VATE).
