Carvana Co. stock price has been declining for the past three months. It lost 32.82% in a quarter and 29.13% in a month. Despite this decline, the price grew 295.84% over the past six months and 494.18% in the year-to-date.
CVNA Stock Price Analysis
In the 52 weeks time frame, CVNA stock price peaked at $57.19. Its lowest trading price was $3.55. When writing, Carvana Co stock was trading below the 20, 50, 100 and 200 day EMAs.
The MACD and signal line seems to be penetrating deeper in the bears’ territory and continuous bearish dominance can be seen below the histogram. Carvana Co. has a market capitalization of $5.414 Billion, and the company’s market cap surged more than 502% in 2023.
The annual price target of CVNA stock is $43.57, which is 52.45% greater than its press time trading price. The average trading volume of CVNA shares is $5.4 Billion and basic EPS is negative -$12.34.
On October 27, 2023, Carvana Co. slipped and lost 1.79% of its trading price. It opened trading $29.63. However, due to extreme bearish pressure, its lowest traded price was $27.87.
TradingView data shows that 84.575 Million CVNA shares are free-floating and remaining 21.969 Million shares are closely held.
Carvana Co (CVNA) Financial Updates
Carvana Co succeeded in reporting 13.48% more than estimated figures. However, the estimated revenue was $2.61 Billion. The reported EPS of the company was -$0.55, which is 53.46% greater than the estimates.
In the financial year 2022, the reported revenue of the company was $13.60 Billion from which its net income was negative $1.59 Billion and profit margin was negative 11.67%.
Long term total liabilities of the company are $7.16 Billion and its assets are $4.10 Billion. Carvana Co solely operates its business of retail vehicles and wholesale vehicles in the United States.
Carvana Co. is a holding company and an eCommerce platform, which engages in the buying and selling of used cars.
Technical Levels
Support Level: $25.25 & $20.53
Resistance Level: $32.09 & $34.59
Conclusion:
CVNA stock has been declining for the past few months and lost 32.82% in a quarter and 29.13% in a month. The MACD and signal line are reflecting bearishness and seem to be penetrating deeper in the bear’s region. Analysts believe that the decline will continue for some time.
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.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/28/carvana-co-cvna-stock-might-fall-further-macd-suggest-decline/