Latch (NASDAQ:LTCH) Shares Gap Up to $3.60

Latch, Inc. (NASDAQ:LTCHGet Rating) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.60, but opened at $3.78. Latch shares last traded at $3.65, with a volume of 1,688 shares changing hands.

LTCH has been the topic of several analyst reports. Cantor Fitzgerald cut Latch from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $5.00 in a research report on Friday, February 25th. DA Davidson initiated coverage on Latch in a research report on Friday, January 21st. They set a “buy” rating and a $11.50 price target on the stock. Imperial Capital cut Latch from an “outperform” rating to an “in-line” rating in a research report on Monday, February 28th. Zacks Investment Research cut Latch from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Robert W. Baird decreased their price target on Latch from $8.00 to $4.00 in a research report on Monday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.22.

The company has a 50 day simple moving average of $4.16 and a 200-day simple moving average of $6.60.

Latch (NASDAQ:LTCHGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. The firm had revenue of $14.52 million for the quarter, compared to the consensus estimate of $13.25 million. As a group, equities analysts predict that Latch, Inc. will post -1.56 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Latch during the fourth quarter valued at about $25,000. Wells Fargo & Company MN boosted its position in Latch by 435.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,105 shares of the company’s stock valued at $38,000 after buying an additional 4,151 shares during the period. Bank of America Corp DE purchased a new stake in Latch during the second quarter valued at about $43,000. Wolverine Asset Management LLC boosted its position in Latch by 151.9% during the third quarter. Wolverine Asset Management LLC now owns 5,435 shares of the company’s stock valued at $61,000 after buying an additional 3,277 shares during the period. Finally, Mirabella Financial Services LLP purchased a new stake in Latch during the fourth quarter valued at about $111,000. 45.30% of the stock is owned by hedge funds and other institutional investors.

Latch Company Profile (NASDAQ:LTCH)

Latch, Inc operates as an enterprise technology company in the United States and Canada. The company offers LatchOS, an operating system that extends smart access, delivery and guest management, smart home and sensors, connectivity, and personalization and services. Its software products include Latch Resident Mobile Applications, Latch Manager Web, and the Latch Manager Mobile Applications.

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