Latch (NASDAQ:LTCH) Stock Price Up 36.7% – Should You Buy?

Latch, Inc. (NASDAQ:LTCH) shares shot up 36.7% during trading on Thursday . The company traded as high as $0.2990 and last traded at $0.2222. 45,084 shares were traded during trading, an increase of 344% from the average session volume of 10,154 shares. The stock had previously closed at $0.1625.

Latch Trading Down 24.6%

The stock has a market cap of $27.51 million, a price-to-earnings ratio of -0.73 and a beta of 1.39. The firm’s 50 day moving average is $0.15 and its two-hundred day moving average is $0.13.

About Latch

Latch Inc is a technology company that specializes in smart access and building management solutions for multi-family residential and commercial properties. The company’s offering combines wireless door hardware with a cloud-based software platform (LatchOS) and a mobile application to provide keyless entry, visitor management, package delivery coordination and remote operational controls. Latch’s ecosystem integrates with third-party building systems—such as elevators, intercoms and security cameras—to streamline workflows for property managers and enhance the daily experience for tenants.

Founded in 2014 by Luke Schoenfelder and a team of engineers out of Cornell Tech in New York City, Latch began by addressing the need for more secure and convenient access in urban dwellings.