The stock of SMART Global Holdings Inc (SGH) has gone down by -6.20% for the week, with a -18.96% drop in the past month and a -14.54% drop in the past quarter. The volatility ratio for the week is 6.98%, and the volatility levels for the past 30 days are 5.32% for SGH. The simple moving average for the last 20 days is -23.82% for SGH stock, with a simple moving average of -14.58% for the last 200 days.
Is It Worth Investing in SMART Global Holdings Inc (NASDAQ: SGH) Right Now?
Company’s 36-month beta value is 1.79.Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 3 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SGH is 50.49M, and currently, short sellers hold a 7.91% ratio of that floaft. The average trading volume of SGH on April 18, 2024 was 1.12M shares.
SGH) stock’s latest price update
SMART Global Holdings Inc (NASDAQ: SGH)’s stock price has plunge by -5.19relation to previous closing price of 19.47. Nevertheless, the company has seen a -6.20% plunge in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-12 that SMART Global (SGH) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Analysts’ Opinion of SGH
Many brokerage firms have already submitted their reports for SGH stocks, with Needham repeating the rating for SGH by listing it as a “Buy.” The predicted price for SGH in the upcoming period, according to Needham is $22 based on the research report published on October 13, 2023 of the previous year 2023.
Needham, on the other hand, stated in their research note that they expect to see SGH reach a price target of $40, previously predicting the price at $45. The rating they have provided for SGH stocks is “Buy” according to the report published on June 30th, 2022.
Rosenblatt gave a rating of “Buy” to SGH, setting the target price at $100 in the report published on December 27th of the previous year.
SGH Trading at -19.07% from the 50-Day Moving Average
After a stumble in the market that brought SGH to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -38.45% of loss for the given period.
Volatility was left at 5.32%, however, over the last 30 days, the volatility rate increased by 6.98%, as shares sank -19.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.17% lower at present.
During the last 5 trading sessions, SGH fell by -6.20%, which changed the moving average for the period of 200-days by -36.37% in comparison to the 20-day moving average, which settled at $24.01. In addition, SMART Global Holdings Inc saw -2.48% 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 SGH starting from Adams Mark, who purchase 10,000 shares at the price of $18.79 back on Apr 11 ’24. After this action, Adams Mark now owns 29,640 shares of SMART Global Holdings Inc, valued at $187,896 using the latest closing price.
Pacheco Jack A, the EVP, COO, Pres, Mem Solutions of SMART Global Holdings Inc, sale 2,500 shares at $20.02 during a trade that took place back on Feb 20 ’24, which means that Pacheco Jack A is holding 220,007 shares at $50,061 based on the most recent closing price.
Stock Fundamentals for SGH
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 0.28 for the gross margin
The net margin for SMART Global Holdings Inc stands at -0.16. The total capital return value is set at 0.01. Equity return is now at value 4.10, with 0.95 for asset returns.
Based on SMART Global Holdings Inc (SGH), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 1.85. The interest coverage ratio of the stock is 0.33.
Currently, EBITDA for the company is 116.63 million with net debt to EBITDA at 3.91. When we switch over and look at the enterprise to sales, we see a ratio of 1.05. The receivables turnover for the company is 7.42for trailing twelve months and the total asset turnover is 0.83. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.30.
Conclusion
In a nutshell, SMART Global Holdings Inc (SGH) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
