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Friday, September 22, 2023

Carver Bancorp Inc. (NASDAQ:CARV) Stock is Plummeting, Here is Why

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Carver Bancorp Inc. (CARV) shares are trading at lower $7.10.

To add more color to this target, the company’s high over the last year is $22.97 and the low is $1.25. Over the last 52 weeks, CARV is up 144.74% while the S&P 500 is up 18.49%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CARV reported a profit of $3.87 million. Carver Bancorp Inc. also saw revenues increase to $5.07 million. In addition, CARV has free cash flow of -$0.12 million as of 09-2020.

CARV booked profit margins of -23.60%, its Return on Equity (ROE) is -49.40%, and its Return on Assets is -0.80%. All told, it is clear that, CARV needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CARV has a short ratio of 0.05 and outstanding shares of 3.78M.

Company Outlook

CARV has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.32 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.31. Investors should also keep an eye on sector updates as CARV has historically followed its peers on positive news.

All told, Carver Bancorp Inc. CARV has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CARV represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Carver Bancorp Inc. CARV is now commanding a market cap of 22.15M and a float of 0.62M. CARV is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CARV stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CARV, either long or short, and we have not been compensated for this article.

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