NVIDIA (NASDAQ:NVDA) Trading Down 0.7% – Here’s Why

NVIDIA Co. (NASDAQ:NVDA) was down 0.7% during trading on Friday . The company traded as low as $138.74 and last traded at $139.12. Approximately 59,422,539 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 260,439,047 shares. The stock had previously closed at $140.11.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent analyst reports. HSBC reduced their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Bank of America reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Mizuho lifted their target price on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, UBS Group increased their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Trading Down 4.1 %

The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.87, a PEG ratio of 1.76 and a beta of 1.62. The company has a fifty day moving average price of $134.66 and a two-hundred day moving average price of $131.33.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the third quarter valued at about $27,000. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.