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Friday, September 29, 2023

Porch Group Inc. (PRCH): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Porch Group Inc. (PRCH) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.0128, or -1.38%, to $0.912. The Porch Group Inc. has recorded 4,334 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Porch Group announces an update in HOA, its insurance carrier.

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Stocks Info

This NASDAQ-listed company operates within the Software – Application industry segment, falling under the Technology sector. At the end of the last regular session, the stock closed at $0.92 and fluctuated between $0.9683 as its day high and $0.8900 as its day low. The current market capitalization of Porch Group Inc. is $90.20M. A total of 1.14 million shares were traded on the day, compared to an average of 1.46M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, PRCH has seen 0 BUY and 4 SELL insider trades, representing the acquisition of 0 and the disposition of 22,529 shares. Over the last 12 months, there were 28 BUYs and 20 SELLs from insiders. Insiders purchased 3,565,004 shares during that period but sold 2,744,371.

In the most recent transaction, Ehrlichman Matt bought 163,158 shares of PRCH for 0.86 per share on Sep 11. After the transaction, the CEO, CHAIRMAN AND FOUNDER now owns 12,953,280 company shares. In a previous transaction on Sep 08, Ehrlichman Matt bought 168,822 shares at 0.83 per share. PRCH shares that CEO, CHAIRMAN AND FOUNDER owns now total 12,790,122.

Among the insiders who bought shares, Ehrlichman Matt acquired of 425,000 shares on Sep 07 at a per-share price of $0.77. This resulted in the CEO, CHAIRMAN AND FOUNDER holding 12,621,300 shares of PRCH after the transaction. In another insider transaction, Ehrlichman Matt bought 363,495 shares at $0.73 per share on Sep 06. Company shares held by the CEO, CHAIRMAN AND FOUNDER now total 12,196,300.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for PRCH in the last 3 months, the mean price target is $4.28 with high estimates of $10.00 and low estimates of $1.25. In terms of 52-week highs and lows, PRCH has a high of $3.99 and a low of $0.71.

As of this writing, PRCH has an earnings estimate of -$0.25 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of -$0.17 per share and a lower estimate of -$0.46. The company reported an EPS of -$0.41 in the last quarter, which was -17.10% lower than expectations of -$0.35.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. PRCH’s latest balance sheet shows that the firm has $324.99M in Cash & Short Term Investments as of fiscal 2021. There were $417.43M in debt and $361.42M in liabilities at the time. Its Book Value Per Share was -$0.38, while its Total Shareholder’s Equity was $214.57M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for PRCH is Buy with a score of 4.25.

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