Big Lots Inc (NYSE: BIG), the American furniture and home decor retailer, has a market cap of nearly $221.16 Million. As per its financial statements, its revenue for last year amounted to $5.47 Billion, most of which (around $1.28 Billion) came from its highest performing source at the moment, Furniture,
Notably, most of the contribution to the revenue figure was made by the United States as last year it brought Big Lots, Inc $5.47 Billion.
Moreover, the company’s Q1 2023 EPS are -$3.40 whereas the estimation was -$1.78 which accounts for -91.08% surprise. The revenue for the same period amounts to $1.12 Billion despite the estimated figure of $1.19 Billion. However, the estimated EPS for the next quarter are -$3.81, and revenue is expected to reach $1.11 Billion.
BIG Stock Price Analysis
On June 16, BIG stock closed at $7.58 while lost $0.90 and dropped nearly 10%. But the recent 5-days of trading analysis of stock indicates nearly 13% of growth which again opposes its recent month decline of almost 5%. Notably, on Friday, the stock opened at the price of $8.52 which was also its 1-day high, while the low was at $7.48.
As the above price chart indicates, after the recent earnings and revenue reports, BIG stock showed quite good trading volume. While due to its recent days of trading, the stock price reached near its 50-day moving average but with bear’s dominance. The RSI also tried to follow an upside down track but with the bear’s potential it fell down.
Moreover, analysts are offering a one-year price target at $5.98 which is down more than 20% from the stock’s recent closing price. While the maximum estimate is at $9.00 and minimum estimate is at $4.00.
As per Yahoo Finance- the U.S.-based business news platform, nearly 112% of shares are held by institutions Blackrock Inc., FMR, LLC, and Vanguard Group, Inc. (The) are top-3 institutional investors of Big Lots.
The share price of the company showed almost equal contribution from active bears and bulls in the most recent trading week, due to which the stock price also showed a bearish trend on Friday while weekly gain was also noted.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/18/big-stock-price-drops-while-heading-towards-the-weekend/