Penserra Capital Management LLC recently announced the acquisition of new stake in Advent Technologies Holdings Inc. (NASDAQ:ADN). The institutional investor has increased its shareholding in the Utilities company by 8,444.55% to 0.74 million shares with purchase of 0.74 million shares. This fresh investment now brings its stake to 1.44% valued currently at $1.35 million. In addition, Prince Street Capital Management raised its holdings by 0.37 million to 0.7 million shares. And Abaris Investment Management AG has lifted its position by 1,600.00% or 0.48 million shares – to 0.51 million shares.
With over 0.28 million Advent Technologies Holdings Inc. (ADN) shares trading Friday and a closing price of $1.93 on the day, the dollar volume was approximately $0.54 million. The shares have shown a negative half year performance of -26.62% and its price on 01/13/23 gained nearly 2.12%. Currently, there are 51.72M common shares owned by the public and among those 25.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for ADN have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00. The average price target is 79.36% above its recent price level and an upside to the estimated low will see the stock gain 51.75% over that period. But an upside of 51.75% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 9 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 368,548 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 191,184 shares.
The top 3 mutual fund holders in Advent Technologies Holdings Inc. are BNP Paribas Funds – Energy Transi, Defiance Next Gen H2 ETF, and Vanguard Total Stock Market Index. BNP Paribas Funds – Energy Transi owns 7.26 million shares of the company’s stock, all valued at over $13.15 million. Vanguard Total Stock Market Index bought 35697.0 shares to bring its total holdings to over 0.76 million shares at a value of $1.38 million. Vanguard Total Stock Market Index now owns shares totaling to 1.47% of the shares outstanding.
Shares of Advent Technologies Holdings Inc. (NASDAQ: ADN) opened at $1.82, down -$0.07 from a prior closing price of $1.89. However, the script later moved the day high at 1.9500, up 2.12%. The company’s stock has a 5-day price change of 9.66% and -9.39% over the past three months. ADN shares are trading 6.63% year to date (YTD), with the 12-month market performance down to -65.23% lower. It has a 12-month low price of $1.13 and touched a high of $5.71 over the same period. ADN has an average intraday trading volume of 468.27K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.22%, 0.74%, and -17.18% respectively.
Institutional ownership of Advent Technologies Holdings Inc. (NASDAQ: ADN) shares accounts for 24.70% of the company’s 51.72M shares outstanding. Mutual fund holders own 23.01%, while other institutional holders and individual stakeholders account for 29.58% and 0.83% respectively.
It has a market capitalization of $97.70M and a beta (3y monthly) value of -0.07. The earnings-per-share (ttm) stands at -$0.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.61% over the week and 7.59% over the month.
Analysts forecast that Advent Technologies Holdings Inc. (ADN) will achieve an EPS of -$0.2 for the current quarter, -$0.21 for the next quarter and -$0.67 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -561.80%, and -6.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Advent Technologies Holdings Inc. (ADN) as a “Strong Buy” at a consensus score of 1.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ADN, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on May 18, 2021, with the firm’s price target at $20. Jefferies coverage for the Advent Technologies Holdings Inc. (ADN) stock in a research note released on March 19, 2021 offered a Buy rating with a price target of $18.