Considering EQRx Inc. (EQRX) as a potential investment: What Should You Do?

The price of EQRx Inc. (NASDAQ: EQRX) closed at $2.46 in the last session, down -1.60% from day before closing price of $2.50. In other words, the price has decreased by -$0.0400 from its previous closing price. On the day, 1855953 shares were traded. EQRX stock price reached its highest trading level at $2.5050 during the session, while it also had its lowest trading level at $2.4250.

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We take a closer look at EQRX’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 24.30 and its Current Ratio is at 24.30. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

On November 11, 2022, Jefferies Downgraded its rating to Hold which previously was Buy and also lowered its target price recommendation from $5.60 to $3.20.

Goldman Downgraded its Buy to Neutral on November 11, 2022, whereas the target price for the stock was revised from $8 to $5.

Stock Price History:

Over the past 52 weeks, EQRX has reached a high of $6.05, while it has fallen to a 52-week low of $1.87. The 50-Day Moving Average of the stock is 2.9392, while the 200-Day Moving Average is calculated to be 4.3687.

Shares Statistics:

According to the various share statistics, EQRX traded on average about 3.42M shares per day over the past 3-months and 5.41M shares per day over the past 10 days. A total of 475.57M shares are outstanding, with a floating share count of 412.64M. Insiders hold about 10.98% of the company’s shares, while institutions hold 79.10% stake in the company. Shares short for EQRX as of Oct 13, 2022 were 23.14M with a Short Ratio of 16.38M, compared to 17.72M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.16% and a Short% of Float of 7.37%.

Earnings Estimates

The company has 2 analysts who recommend its stock at the moment. The consensus estimate for the next quarter is -$0.22, with high estimates of -$0.22 and low estimates of -$0.23.

Analysts are recommending an EPS of between -$0.55 and -$0.71 for the fiscal current year, implying an average EPS of -$0.6. EPS for the following year is -$0.88, with 3 analysts recommending between -$0.78 and -$1.07.