Acutus Medical Inc. (NASDAQ:AFIB) marked $1.77 per share on Monday, up from a previous closing price of $1.50. While Acutus Medical Inc. has overperformed by 18.00%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AFIB fell by -23.38%, with highs and lows ranging from $2.49 to $0.48, whereas the simple moving average jumped by 79.57% in the last 200 days.
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On November 15, 2021, JP Morgan Downgraded Acutus Medical Inc. (NASDAQ: AFIB) to Underweight. A report published by Goldman on October 22, 2021, Initiated its previous ‘Neutral’ rating for AFIB. Canaccord Genuity also Upgraded AFIB shares as ‘Buy’, setting a target price of $18 on the company’s shares in a report dated July 15, 2021. William Blair March 19, 2021d the rating to Mkt Perform on March 19, 2021, and set its price target from $39 to $19. JP Morgan March 19, 2021d its ‘Overweight’ rating to ‘Neutral’ for AFIB, as published in its report on March 19, 2021. BofA Securities’s report from January 14, 2021 suggests a price prediction of $30 for AFIB shares, giving the stock a ‘Neutral’ rating. William Blair also rated the stock as ‘Outperform’.
Analysis of Acutus Medical Inc. (AFIB)
Further, the quarter-over-quarter decrease in sales is -21.70%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Acutus Medical Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -111.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 591.80K can be a very valuable indicator of volatility for AFIB stock. On a monthly basis, the volatility of the stock is set at 15.42%, whereas on a weekly basis, it is put at 13.82%, with a gain of 45.08% over the past seven days. Furthermore, long-term investors anticipate a median target price of $1.70, showing decline from the present price of $1.77, which can serve as yet another indication of whether AFIB is worth investing in or should be passed over.
How Do You Analyze Acutus Medical Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 42.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AFIB shares?
The recent increase in stakes in AFIB appears to be a result of several institutional investors and hedge funds increasing their positions. Deerfield Management Co. LP’s position in AFIB has increased by 0.12% in the first quarter. The company now owns 2,651,667 shares of the stock, with a value of $3.05 million, following the purchase of 3,281 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in AFIB during the first quarter, upping its stake by 70.94%. During the last quarter, the company dropped down 470,719 additional shares for a total stake of worth $1.3 million, bringing number of shares owned by the company to 1,134,306.
During the first quarter, Capital Research & Management Co subtracted a -802,477 position in AFIB. Kamunting Street Capital Manageme sold an additional 16460.0 shares in the last quarter, decreasing its holdings by -2.83%, now holding 0.56 million shares worth $0.65 million. At the end of the first quarter, Millennium Management LLC increased its AFIB holdings by 121.75% and now holds 0.43 million AFIB shares valued at $0.49 million with the added 0.24 million shares during the period. AFIB shares are owned by institutional investors to the tune of 42.30% at present.
