Additionally, the 36-month beta value for SGH is 1.68. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 3 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for SGH is 51.46M and currently, short sellers hold a 10.81% ratio of that float. The average trading volume of SGH on July 26, 2024 was 1.06M shares.
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SGH) stock’s latest price update
The stock price of SMART Global Holdings Inc (NASDAQ: SGH) has dropped by -2.40 compared to previous close of 23.32. Despite this, the company has seen a fall of -7.63% in its stock price over the last five trading days. businesswire.com reported 2024-07-15 that NEW YORK–(BUSINESS WIRE)—- $SGH #AI–Today SGH announced that SK Telecom, an affiliate of SK Group, is making a $200 million preferred equity investment in SGH to enhance its AI offerings.
SGH’s Market Performance
SMART Global Holdings Inc (SGH) has seen a -7.63% fall in stock performance for the week, with a 1.65% gain in the past month and a 28.15% surge in the past quarter. The volatility ratio for the week is 4.14%, and the volatility levels for the past 30 days are at 4.93% for SGH. The simple moving average for the past 20 days is -8.45% for SGH’s stock, with a 11.90% simple moving average for the past 200 days.
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 0.43% 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 -23.65% of loss for the given period.
Volatility was left at 4.93%, however, over the last 30 days, the volatility rate increased by 4.14%, as shares sank -1.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.42% upper at present.
During the last 5 trading sessions, SGH fell by -7.63%, which changed the moving average for the period of 200-days by -6.45% in comparison to the 20-day moving average, which settled at $24.84. In addition, SMART Global Holdings Inc saw 20.23% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SGH starting from Clark Joseph Gates, who sale 5,000 shares at the price of $29.00 back on Jul 10 ’24. After this action, Clark Joseph Gates now owns 87,386 shares of SMART Global Holdings Inc, valued at $145,006 using the latest closing price.
Clark Joseph Gates, the President, LED Solutions of SMART Global Holdings Inc, sale 2,529 shares at $17.94 during a trade that took place back on Apr 24 ’24, which means that Clark Joseph Gates is holding 92,386 shares at $45,359 based on the most recent closing price.
Stock Fundamentals for SGH
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.29 for the gross margin
The net margin for SMART Global Holdings Inc stands at -0.14. The total capital return value is set at 0.02. Equity return is now at value 12.15, with 2.87 for asset returns.
Based on SMART Global Holdings Inc (SGH), the company’s capital structure generated 0.62 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 1.61. The interest coverage ratio of the stock is 0.56.
Currently, EBITDA for the company is 116.63 million with net debt to EBITDA at 2.95. When we switch over and look at the enterprise to sales, we see a ratio of 1.26. The receivables turnover for the company is 5.55for trailing twelve months and the total asset turnover is 0.76. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.68.
Conclusion
In conclusion, SMART Global Holdings Inc (SGH) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
