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Wednesday, December 6, 2023

Momentum Is Strong For Porch Group Inc (NASDAQ: PRCH)

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 intact, with the stock’s consolidated last price rising by $0.2144, or 30.39%, to $0.92. The Porch Group Inc has recorded 1,096,662 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Porch Group Reports Third Quarter 2023 Results.

Stocks Info

This NASDAQ-listed company operates within the Software – Application industry segment, falling under the Technology sector. The current market capitalization of Porch Group Inc is $69.45M. A total of 1.11 million shares were traded on the day, compared to an average of 1.16M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, PRCH has seen 15 BUY and 6 SELL insider trades, representing the acquisition of 1,856,065 and the disposition of 36,702 shares. Over the last 12 months, there were 44 BUYs and 22 SELLs from insiders. Insiders purchased 5,561,754 shares during that period but sold 2,745,744.

In the most recent transaction, Ehrlichman Matt bought 67,225 shares of PRCH for 0.79 per share on Oct 02. After the transaction, the CEO, CHAIRMAN AND FOUNDER now owns 13,875,628 company shares. In a previous transaction on Sep 29, Ehrlichman Matt bought 2,439 shares at 0.80 per share. PRCH shares that CEO, CHAIRMAN AND FOUNDER owns now total 13,833,039.

Among the insiders who bought shares, Ehrlichman Matt acquired of 68,933 shares on Sep 28 at a per-share price of $0.84. This resulted in the CEO, CHAIRMAN AND FOUNDER holding 13,830,600 shares of PRCH after the transaction. In another insider transaction, Ehrlichman Matt bought 47,958 shares at $0.77 per share on Sep 27. Company shares held by the CEO, CHAIRMAN AND FOUNDER now total 13,761,667.

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 $0.50.

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 -$0.37, 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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