Presto Automation Inc (PRST) Shares Soar Above 1-Year High

Presto Automation Inc (NASDAQ: PRST) has experienced a rise in its stock price by 0.22 compared to its previous closing price of 0.96. However, the company has seen a gain of 7.83% in its stock price over the last five trading days. Seeking Alpha reported 2023-11-29 that PRST has dropped significantly after an initial hype phase due to a couple of unimpressive quarters. PRST is backed heavily by insiders and other large investors who want to see common shares succeed. Due to the heavy investor backing, I don’t believe that PRST is at great risk of crippling levels of dilution seen with other small cap de-SPACs in similar financial shape.

Is It Worth Investing in Presto Automation Inc (NASDAQ: PRST) Right Now?

compared to its average ratio and a 36-month beta value of 1.58.

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The public float for PRST is 30.12M, and currently, short sellers hold a 2.48% ratio of that float. The average trading volume of PRST on February 13, 2024 was 4.29 shares.

PRST’s Market Performance

The stock of Presto Automation Inc (PRST) has seen a 7.83% increase in the past week, with a -28.96% drop in the past month, and a -78.45% fall in the past quarter. The volatility ratio for the week is 23.79%, and the volatility levels for the past 30 days are at 19.35% for PRST. The simple moving average for the past 20 days is 133.33% for PRST’s stock, with a Nov 20 AMC simple moving average for the past 200 days.

Analysts’ Opinion of PRST

Many brokerage firms have already submitted their reports for PRST stocks, with Chardan Capital Markets repeating the rating for PRST by listing it as a “Buy.” The predicted price for PRST in the upcoming period, according to Chardan Capital Markets is $5 based on the research report published on June 01, 2023 of the previous year 2023.

PRST Trading at -37.20% from the 50-Day Moving Average

After a stumble in the market that brought PRST to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -96.11% of loss for the given period.

Volatility was left at 19.35%, however, over the last 30 days, the volatility rate increased by 23.79%, as shares sank -29.25% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -63.35% lower at present.

During the last 5 trading sessions, PRST rose by +7.83%, which changed the moving average for the period of 200-days by -94.01% in comparison to the 20-day moving average, which settled at $0.2407. In addition, Presto Automation Inc saw -58.04% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PRST starting from Kravcik Keith E, who sale 22,687 shares at the price of $0.62 back on Dec 08. After this action, Kravcik Keith E now owns 400,000 shares of Presto Automation Inc, valued at $14,066 using the latest closing price.

Kravcik Keith E, the Director of Presto Automation Inc, sale 15,800 shares at $0.66 during a trade that took place back on Dec 07, which means that Kravcik Keith E is holding 422,687 shares at $10,428 based on the most recent closing price.

Conclusion

To put it simply, Presto Automation Inc (PRST) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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