VATE (INNOVATE Corp.): Time to Pay Attention?

The price of INNOVATE Corp. (NYSE: VATE) closed at $1.10 in the last session, up 7.84% from day before closing price of $1.02. In other words, the price has increased by $+0.0800 from its previous closing price. On the day, 237120 shares were traded. VATE stock price reached its highest trading level at $1.1300 during the session, while it also had its lowest trading level at $1.0200.

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Ratios:

We take a closer look at VATE’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10.

Upgrades & Downgrades

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Nov 15 when Sena Michael J. bought 5,000 shares for $0.97 per share. The transaction valued at 4,845 led to the insider holds 661,905 shares of the business.

Sena Michael J. bought 10,000 shares of VATE for $9,675 on Nov 14. The Chief Financial Officer now owns 656,905 shares after completing the transaction at $0.97 per share. On Nov 14, another insider, BARR WAYNE JR, who serves as the President and CEO of the company, bought 10,000 shares for $0.93 each. As a result, the insider paid 9,299 and bolstered with 352,185 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.05.

Stock Price History:

Over the past 52 weeks, VATE has reached a high of $4.37, while it has fallen to a 52-week low of $0.64. The 50-Day Moving Average of the stock is 0.8758, while the 200-Day Moving Average is calculated to be 2.1480.

Shares Statistics:

According to the various share statistics, VATE traded on average about 238.54K shares per day over the past 3-months and 289.89k shares per day over the past 10 days. A total of 77.60M shares are outstanding, with a floating share count of 48.35M. Insiders hold about 1.70% of the company’s shares, while institutions hold 33.00% stake in the company. Shares short for VATE as of Oct 13, 2022 were 1.72M with a Short Ratio of 1.80M, compared to 1.8M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.20% and a Short% of Float of 3.81%.

Earnings Estimates

The company has 0 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0 for the current quarter, with a high estimate of $0 and a low estimate of $0, while EPS last year was -$0.66. The consensus estimate for the next quarter is $0, with high estimates of $0 and low estimates of $0.

Analysts are recommending an EPS of between $0 and $0 for the fiscal current year, implying an average EPS of $0. EPS for the following year is $0, with 0 analysts recommending between $0 and $0.

Revenue Estimates

According to 1 analysts, the current quarter’s revenue is expected to be $248.1M. It ranges from a high estimate of $250M to a low estimate of $250M. As of the current estimate, INNOVATE Corp.’s year-ago sales were $498.4M, an estimated decrease of -50.20% from the year-ago figure. For the next quarter, 1 analysts are estimating revenue of $251.7M, a decrease of -43.40% over than the figure of -$50.20% in the same quarter last year. There is a high estimate of $251.7M for the next quarter, whereas the lowest estimate is $251.7M.

A total of 1 analysts have provided revenue estimates for VATE’s current fiscal year. The highest revenue estimate was $1.47B, while the lowest revenue estimate was $1.47B, resulting in an average revenue estimate of $1.02B. In the same quarter a year ago, actual revenue was $1.98B, down -48.50% from the average estimate. Based on 1 analysts’ estimates, the company’s revenue will be $1.09B in the next fiscal year. The high estimate is $1.09B and the low estimate is $1.09B. The average revenue growth estimate for next year is up 7.00% from the average revenue estimate for this year.