Latch Inc. [LTCH] stock Initiated by Imperial Capital analyst, price target now $15

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Latch Inc. [NASDAQ: LTCH] traded at a high on 11/24/21, posting a 4.98 gain after which it closed the day’ session at $8.43. The company report on November 23, 2021 that Latch Named to Inc. Best-Led Companies List.

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Latch, Inc. (NASDAQ: LTCH) (“Latch” or the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, announced it has been named to the inaugural Inc. Best-Led Companies list. To determine the 250 best-led mid-market companies in America, Inc. analyzed 1.3 million data points from more than 10,000 companies.

The results of the trading session contributed to over 840324 shares changing hands. Over the past one week, the price volatility of Latch Inc. stands at 7.15% while the volatility over the past one month is 6.93%.

The market cap for LTCH stock reached $1.23 billion, with 140.68 million shares outstanding and 110.06 million shares in the current float. Compared to the average trading volume of 1.15M shares, LTCH reached a trading volume of 840324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Latch Inc. [LTCH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LTCH shares is $12.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LTCH stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Imperial Capital have made an estimate for Latch Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 18, 2021. While these analysts kept the previous recommendation, Goldman dropped their target price from $16 to $10. The new note on the price target was released on October 18, 2021, representing the official price target for Latch Inc. stock. Previously, the target price had yet another raise to $10, while BofA Securities analysts kept a Underperform rating on LTCH stock.

The Average True Range (ATR) for Latch Inc. is set at 0.60, with the Price to Sales ratio for LTCH stock in the period of the last 12 months amounting to 45.74. The Price to Book ratio for the last quarter was 2.79, with the Price to Cash per share for the same quarter was set at 2.26.

How has LTCH stock performed recently?

Latch Inc. [LTCH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.53. With this latest performance, LTCH shares dropped by -12.91% in over the last four-week period, additionally sinking by -18.79% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LTCH stock in for the last two-week period is set at 40.61, with the RSI for the last a single of trading hit 41.88, and the three-weeks RSI is set at 40.60 for Latch Inc. [LTCH]. The present Moving Average for the last 50 days of trading for this stock 10.29, while it was recorded at 8.34 for the last single week of trading, and 11.46 for the last 200 days.

Latch Inc. [LTCH]: Deeper insight into the fundamentals

Latch Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.10 and a Current Ratio set at 14.50.

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Insider trade positions for Latch Inc. [LTCH]

There are presently around $449 million, or 47.90% of LTCH stock, in the hands of institutional investors. The top three institutional holders of LTCH stocks are: SPRUCE HOUSE INVESTMENT MANAGEMENT LLC with ownership of 14,000,000, which is approximately 33.333% of the company’s market cap and around 7.40% of the total institutional ownership; VANGUARD GROUP INC, holding 7,705,736 shares of the stock with an approximate value of $64.96 million in LTCH stocks shares; and MORGAN STANLEY, currently with $47.64 million in LTCH stock with ownership of nearly 77.946% of the company’s market capitalization.

Positions in Latch Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 44 institutional holders increased their position in Latch Inc. [NASDAQ:LTCH] by around 17,161,972 shares. Additionally, 32 investors decreased positions by around 11,187,133 shares, while 5 investors held positions by with 24,957,373 shares. The mentioned changes placed institutional holdings at 53,306,478 shares, according to the latest SEC report filing. LTCH stock had 23 new institutional investments in for a total of 2,772,175 shares, while 20 institutional investors sold positions of 6,500,649 shares during the same period.