Geode Capital Management LLC has recently announced that it has increased stake in SmileDirectClub Inc. (NASDAQ:SDC) by 9.91%. After grabbing 1.11 million shares, the institutional investor is now in possession of 0.1 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.91% having worth around $0.67 million. Moreover, Millennium Management LLC increased its share by 0.8 million to have a control over 0.8 million shares. And Jane Street Capital LLC raised its holdings to 0.45 million shares by acquiring 0.5 million shares or 0.41% of the stake.
SmileDirectClub Inc. (SDC) concluded trading on 03/15/23 at a closing price of $0.41, with 1.8 million shares of worth about $0.74 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -65.03% during that period and on Wednesday the price saw a loss of about -6.23%. Currently the company’s common shares owned by public are about 123.06M shares, out of which, 117.62M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the SDC stock and their offered price forecasts bring an average price target of $0.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $1.00 and could fall to a lowest price of $0.40. However, touching the estimated high of $1.00 would mean a gain of 59.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 9 times over the past 12 months. They bought 1,506,747 shares in 7 of the transactions. In 2 selling transactions, insiders dumped 110,299 shares.
Vanguard Total Stock Market Index, IAM Prentice Long Short Equity UC, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in SmileDirectClub Inc. Vanguard Total Stock Market Index is currently holding 3.59 million shares of worth totaling $2.16 million. The company recently came buying 0.0 shares which brought its stake up to 2.95% of the company’s outstanding shares. Vanguard Extended Market Index Fu, after buying 1.52 million shares, have now control over 1.25% of the stake in the company. It holds 0.0 shares of worth $0.91 million.
However, the stock later moved at a day high price of 0.4499, or with a loss of -6.23%. Stock saw a price change of -15.80% in past 5 days and over the past one month there was a price change of -28.69%. Year-to-date (YTD), SDC shares are showing a performance of 17.15% which decreased to -79.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.31 but also hit the highest price of $3.10 during that period. The average intraday trading volume for SmileDirectClub Inc. shares is 2.80 million. The stock is currently trading -20.92% below its 20-day simple moving average (SMA20), while that difference is down -23.08% for SMA50 and it goes to -52.70% lower than SMA200.
Geode Capital Management LLC acquired 1.11 million shares of SmileDirectClub Inc. having value of about $0.67 million. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 0.1 million shares in the company valued at close to $41007.79, or have control over 9.91% stake in the company. SmileDirectClub Inc. (NASDAQ: SDC) currently have 123.06M outstanding shares and institutions hold larger chunk of about 22.70% of that. Holding of mutual funds in the company is about 8.76% while other institutional holders and individual stake holders have control over 9.36% and 17.64% of the stake respectively.
The stock has a current market capitalization of $167.64M and its 3Y-monthly beta is at 2.19. It has posted earnings per share of -$0.71 in the same period. It has Quick Ratio of 2.20 while making debt-to-equity ratio of 7.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SDC, volatility over the week remained 9.37% while standing at 10.86% over the month.
Analysts are in expectations that SmileDirectClub Inc. (SDC) stock would likely to be making an EPS of -$0.21 in the current quarter, while forecast for next quarter EPS is -$0.14 and it is -$0.5 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.22 which is -$0.19 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.25 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 17.70% while it is estimated to increase by 13.30% in next year. EPS is likely to grow at an annualized rate of 20.40% for next 5-years, compared to annual growth of -53.10% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the SmileDirectClub Inc. (SDC)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.30. Out of those 7 Wall Street analysts, 0 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Loop Capital on March 30, 2022 offering a Sell rating for the stock and assigned a target price of $2 to it. Coverage by Morgan Stanley stated SmileDirectClub Inc. (SDC) stock as an Equal-weight in their note to investors on January 31, 2022, suggesting a price target of $2.30 for the stock. On January 25, 2022, Craig Hallum Upgrade their recommendations, while on November 09, 2021, Stifel Reiterated their ratings for the stock with a price target of $5. Stock get a Hold rating from Loop Capital on November 09, 2021.
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