NetApp, Inc. (NTAP) is an interesting player in the Technology space, with a focus on Data Storage Devices. The stock has been active on the tape, currently trading at $55.32, down from yesterday’s close by -0.86%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.Fundamental Analysis
NetApp, Inc. (NTAP) currently trades with a market capitalization of $14.89 Billion. That value represents a market adjusting for revenues that have been growing by 6.12 % on a quarterly year/year basis as of the company’s last quarterly report.
You can get a sense of how sustainable that is by a levered free cash flow of $1.02 Billion over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.91 on a per share basis this quarter. Perhaps, that suggests something about why 0.33% of the outstanding share supply is held by institutional investors.
It’s important to check the technicals to get a sense of how NTAP has been acting. Looking at the stock’s movement on the chart, NetApp, Inc. recorded a 52-week high of $58.99. It is now trading 3.67% off that level. The stock is trading $51.78 its 50-day moving average by -3.54%. The stock carved out a 52-week low down at $35.08.
In recent action, NetApp, Inc. (NTAP) has made a move of -2.11% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 19.03, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 4.87% with $266.62 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of NTAP.