Is Limbach Holdings Inc. (NASDAQ) Bullish Or Bearish In 2023?

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Limbach Holdings Inc. (NASDAQ:LMB) shares, rose in value on Friday, 06/16/23, with the stock price up by 4.51% to the previous day’s close as strong demand from buyers drove the stock to $24.09.

Actively observing the price movement in the last trading, the stock closed the session at $23.05, falling within a range of $23.11 and $24.69. The PE ratio was 23.12 over 12-month period. Referring to stock’s 52-week performance, its high was $23.98, and the low was $4.90. On the whole, LMB has fluctuated by 16.43% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.15, which is expected to increase to $0.32 for fiscal year $1.08 and then to about $1.43 by fiscal year 2024. Data indicates that the EPS growth is expected to be 68.80% in 2024, while the next year’s EPS growth is forecast to be 32.40%.

Analysts have estimated the company’s revenue for the quarter at $118.75 million, with a low estimate of $115 million and a high estimate of $124 million. According to the average forecast, sales growth in current quarter could jump up 2.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $498.32 million, representing an increase of 0.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LMB’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 1.93, with the price of LMB currently trading nearly 9.41% and 23.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.88, while the 7-day volatility ratio is showing 5.12% which for the 30-day chart, stands at 5.18%. Furthermore, Limbach Holdings Inc. (LMB)’s beta value is 1.10, and its average true range (ATR) is 1.10.

A comparison of Limbach Holdings Inc. (LMB) with its peers suggests the former has fared considerably weaker in the market. LMB showed an intraday change of 4.51% in last session, and over the past year, it grew by 304.87%%. On the other hand, the price of Limbach Holdings Inc. (LMB) has risen 4.51% on the day. The stock, however, is off 304.87% from where it was a year ago. Additionally, there is a loss of -3.69% for Sunrun Inc. (RUN) in last trading while the stock has seen an overall depriciation of -17.10%% over the past year. The PE ratio stands at 23.12 for Limbach Holdings Inc., and 23.12 for Limbach Holdings Inc.. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.37%. Meanwhile, the Dow Jones Industrial Slipped by -0.32%.

Data on historical trading for Limbach Holdings Inc. (NASDAQ:LMB) indicates that the trading volumes over the past 10 days have averaged 0.16 million and over the past 3 months, they’ve averaged 106.69K. According to company’s latest data on outstanding shares, there are 10.47 million shares outstanding.

Nearly 0.20% of Limbach Holdings Inc.’s shares belong to company insiders and institutional investors own 42.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.14 million shares as on May 30, 2023, resulting in a short ratio of 1.37. According to the data, the short interest in Limbach Holdings Inc. (LMB) stood at 1.35% of shares outstanding as of May 30, 2023; the number of short shares registered in Apr 27, 2023 reached 0.16 million. The stock has risen by 131.41% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LMB stock heading into the next quarter.