Harel Mutual Funds Ltd. recently announced the acquisition of new stake in Otonomo Technologies Ltd. (NASDAQ:OTMO). The institutional investor has increased its shareholding in the Technology company by 3.39% to 2.19 million shares with purchase of 71975.0 shares. This fresh investment now brings its stake to 1.57% valued currently at $0.89 million. In addition, Fidelity Management & Research Co raised its holdings by 393.0 to 1.98 million shares.
With over 0.17 million Otonomo Technologies Ltd. (OTMO) shares trading Friday and a closing price of $0.45 on the day, the dollar volume was approximately $76725.0. The shares have shown a negative half year performance of -37.81% and its price on 01/20/23 gained nearly 4.42%. Currently, there are 140.77M common shares owned by the public and among those 101.24M 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: 3 analysts who have offered their price forecasts for OTMO have a consensus price objective of $1.31. The analysts have set the share’s price value over the next 12 months at a high of $2.00 and a low of $0.42. The average price target is 65.65% above its recent price level and a downside to the estimated low will see the stock lose -7.14% over that period. But an upside of 77.5% will see the stock hit the forecast high price target while median target price for the stock is $1.50.
Insiders at the company have transacted a total of 6 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 1,538,820 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Otonomo Technologies Ltd. are Fidelity Select Port. – Technolog, TETON Westwood Mighty Mites Fund, and Fidelity Nasdaq Composite Index F. Fidelity Select Port. – Technolog owns 1.05 million shares of the company’s stock, all valued at over $0.43 million. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.03% of the shares outstanding.
However, the script later moved the day high at 0.4625, up 4.42%. The company’s stock has a 5-day price change of 3.28% and 74.62% over the past three months. OTMO shares are trading 11.55% year to date (YTD), with the 12-month market performance down to -84.34% lower. It has a 12-month low price of $0.20 and touched a high of $2.98 over the same period. OTMO has an average intraday trading volume of 567.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.15%, 9.25%, and -40.39% respectively.
Institutional ownership of Otonomo Technologies Ltd. (NASDAQ: OTMO) shares accounts for 48.80% of the company’s 140.77M shares outstanding. Mutual fund holders own 11.46%, while other institutional holders and individual stakeholders account for 9.76% and 0.83% respectively.
It has a market capitalization of $61.20M. The earnings-per-share (ttm) stands at -$0.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.50% over the week and 9.03% over the month.
Analysts forecast that Otonomo Technologies Ltd. (OTMO) will achieve an EPS of -$0.12 for the current quarter, -$0.14 for the next quarter and -$0.55 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.12. Earnings per share for the fiscal year are expected to decrease by -54.40%, and 36.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Otonomo Technologies Ltd. (OTMO) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OTMO, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on June 03, 2022, with the firm’s price target at $1.50.