Latch (NASDAQ:LTCH) Trading Down 4.5% – Here’s Why

Shares of Latch, Inc. (NASDAQ:LTCH) were down 4.5% during trading on Tuesday . The company traded as low as $0.20 and last traded at $0.21. Approximately 46,074 shares were traded during mid-day trading, an increase of 77% from the average daily volume of 26,058 shares. The stock had previously closed at $0.22.

Latch Trading Down 4.5%

The business’s 50-day simple moving average is $0.20 and its two-hundred day simple moving average is $0.15. The company has a market capitalization of $34.49 million, a PE ratio of -0.91 and a beta of 1.32.

About Latch

Latch Inc is a technology company that specializes in smart access and building management solutions for multi-family residential and commercial properties. The company’s offering combines wireless door hardware with a cloud-based software platform (LatchOS) and a mobile application to provide keyless entry, visitor management, package delivery coordination and remote operational controls. Latch’s ecosystem integrates with third-party building systems—such as elevators, intercoms and security cameras—to streamline workflows for property managers and enhance the daily experience for tenants.

Founded in 2014 by Luke Schoenfelder and a team of engineers out of Cornell Tech in New York City, Latch began by addressing the need for more secure and convenient access in urban dwellings.