What just happened? Advanced Energy Industries, Inc. (NASDAQ:AEIS) stock value has plummeted by nearly -3.04% or (-1.79 points) to $57.14 from its previous close of $58.93. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 387251 contracts so far this session. AEIS shares had a relatively better volume day versus average trading capacity of 277.5 thousand shares, but with a 37.47 million float and a 2.03% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AEIS stock indicates that the average analyst price target is $55.17 per share. This means the stock has a potential decrease of -3.45% from where the AEIS share price has been trading recently which is between $57.21 and $58.99. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $45.
The shorts are running away from Advanced Energy Industries, Inc. (AEIS) stock. The latest set of short interest data was released on 15 April 2019, and the numbers show a drop in short interest in AEIS shares. While short interest still represents only 4.09% of AEIS’s float, the number of shares shorted have fallen by -104992. The number of shares shorted fell to 1531598 shares, down from 1636590 shares during the preceding fortnight. With average daily trading volumes at 315345 shares, days to cover decreased to about 6.724119 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Did Hedge Funds Drop The Ball On Advanced Energy Industries, Inc. (AEIS)” and dated May 02, 2019.
During the recent trading session for Advanced Energy Industries, Inc. (NASDAQ:AEIS), the company witnessed their stock drop by $-0.25 over a week and surge $2.42 from the price 20 days ago. When compared to their established 52-week high of $69.21, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/06/18. The recent low of $38.74 stood for a -17.44% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.45 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Advanced Energy Industries, Inc., the two-week RSI stands at 59.59. This figure suggests that AEIS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AEIS readings is similarly very revealing as it has a stochastic reading of 73.94% at this stage. This figure means that AEIS share price today is being oversold.
Technical chart claims that Advanced Energy Industries, Inc. (AEIS) would settle between $59.54/share to $60.16/share level. However, if the stock price goes below the $57.76 mark, then the market for Advanced Energy Industries, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $56.6 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Cowen lifted target price for shares of AEIS but were stick to Outperform recommendation for the stock in their opinion released on October 31. The price target has been raised from $76 to $58. Raymond James analysts bumped their rating on Advanced Energy Industries, Inc. (NASDAQ:AEIS) stock from Mkt Perform to Outperform in a separate flash note issued to investors on July 05. Analysts at Needham are sticking to their Buy stance. However, on May 02, they lifted price target for these shares to $80 from $97.
AEIS equity has an average rating of 2.33, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Advanced Energy Industries, Inc. (NASDAQ:AEIS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, AEIS stock price is currently trading at 12.87X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.76 while for the average stock in the same group, the multiple is 8.22. Advanced Energy Industries, Inc. current P/E ratio of 22.17 means it is trading at a discount against its industry’s 166.15. In the past 5 years, this ratio for the stock has been fluctuating between 13.78 and 27.
Advanced Energy Industries, Inc. (AEIS)’s current-quarter revenues are projected to climb by nearly -26.76% to hit $143270, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -12.29% from $718890 to a noteworthy $630580. At the other end of the current quarter income statement, Advanced Energy Industries, Inc. is expected to see its adjusted earnings surge by roughly -64.18% to hit $0.48 per share. For the fiscal year, AEIS’s earnings are projected to climb by roughly -37.76% to hit $2.72 per share.