Navitas Semiconductor Sees Unusually High Options Volume (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS) was the recipient of some unusual options trading on Thursday. Stock investors bought 3,119 call options on the company. This represents an increase of approximately 57% compared to the typical daily volume of 1,987 call options.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $3.77 on Friday. The company has a market capitalization of $704.24 million, a PE ratio of -8.98 and a beta of 2.37. The company’s fifty day moving average price is $2.45 and its 200 day moving average price is $3.16. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same period in the prior year, the company posted ($0.10) EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts expect that Navitas Semiconductor will post -0.51 EPS for the current year.

Wall Street Analyst Weigh In

NVTS has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum reduced their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Institutional Trading of Navitas Semiconductor

Several institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. purchased a new position in shares of Navitas Semiconductor during the 3rd quarter valued at approximately $36,000. Bleakley Financial Group LLC acquired a new position in Navitas Semiconductor during the third quarter worth $41,000. GSA Capital Partners LLP acquired a new stake in shares of Navitas Semiconductor in the third quarter valued at about $44,000. DRW Securities LLC purchased a new stake in shares of Navitas Semiconductor during the second quarter worth about $46,000. Finally, Wedbush Securities Inc. purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $49,000. 46.14% of the stock is owned by institutional investors and hedge funds.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.