Movella (NASDAQ:MVLA) Stock Rating Reaffirmed by Needham & Company LLC

Movella (NASDAQ:MVLA)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $2.40 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 258.21% from the stock’s current price.

Separately, Northland Securities started coverage on shares of Movella in a research report on Tuesday, May 23rd. They set an “outperform” rating on the stock.

Movella Trading Down 1.8 %

MVLA stock opened at $0.67 on Thursday. The company has a current ratio of 5.67, a quick ratio of 5.14 and a debt-to-equity ratio of 0.70. Movella has a twelve month low of $0.65 and a twelve month high of $10.76. The firm’s fifty day simple moving average is $1.49 and its two-hundred day simple moving average is $1.80.

Movella (NASDAQ:MVLA) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The business had revenue of $8.36 million for the quarter, compared to analyst estimates of $9.04 million. Analysts predict that Movella will post -0.4 earnings per share for the current year.

Institutional Trading of Movella

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in Movella in the second quarter worth about $43,000. XTX Topco Ltd purchased a new stake in Movella in the second quarter worth about $47,000. Gabelli Funds LLC purchased a new stake in Movella in the first quarter worth about $34,000. Two Sigma Securities LLC purchased a new stake in Movella in the first quarter worth about $36,000. Finally, CIBC Asset Management Inc purchased a new stake in Movella in the first quarter worth about $36,000. 37.14% of the stock is owned by hedge funds and other institutional investors.

Movella Company Profile

Movella Holdings Inc operates as a full-stack provider of sensors, software, and analytics that enable the digitization of movement in the United States. Its real-time character movement in digital environments transforms movement into digital data that provides actionable insights. The company offers Xsens 3D Body Motion Systems comprises wearable sensor systems and motion capture solutions, including MVN Animate or MVN Analyze software, a full-body wearable sensor system, which captures the motion of the human body.