How Far Ascena Retail Group, Inc. (ASNA) Will Fall Today

Stay Ahead of Wall Street. Find out what is happening to Ascena Retail Group, Inc. (NASDAQ:ASNA) stock today? Its price is nose-diving -0.04 points, trading at $1.31 levels, and is down -2.96% from its previous close of $1.35. The shares seem to have an active trading volume day with a reported 977216 contracts so far this session. ASNA shares had a relatively better volume day versus average trading capacity of 3.84 million shares, but with a 0.16 billion float and a 3.85% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ASNA stock indicates that the average analyst price target is $1.83 per share. This means the stock has a potential increase of 39.69% from where the ASNA share price has been trading recently which is between $1.26 and $1.41. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.

The shorts are running away from Ascena Retail Group, Inc. (ASNA) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in ASNA shares. While short interest still represents only 36.56% of ASNA’s float, the number of shares shorted have fallen by -445834. The number of shares shorted fell to 56966552 shares, down from 57412386 shares during the preceding fortnight. With average daily trading volumes at 3006029 shares, days to cover increased to about 16.42022 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Loft wardrobe subscription competes on sizes, price” and dated May 13, 2019.

During the recent trading session for Ascena Retail Group, Inc. (NASDAQ:ASNA), the company witnessed their stock drop by $-0.01 over a week and surge $0.15 from the price 20 days ago. When compared to their established 52-week high of $5.28, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/22/18. The recent low of $0.97 stood for a -75.21% since 04/01/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.28 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 Ascena Retail Group, Inc., the two-week RSI stands at 53.58. This figure suggests that ASNA 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 ASNA readings is similarly very revealing as it has a stochastic reading of 61.51% at this stage. This figure means that ASNA share price today is being neutral.

Technical chart claims that Ascena Retail Group, Inc. (ASNA) would settle between $1.42/share to $1.49/share level. However, if the stock price goes below the $1.27 mark, then the market for Ascena Retail Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.19 for its downside target.

Analysts at Citigroup raised their recommendation on shares of ASNA from Sell to Neutral in their opinion released on April 03. Telsey Advisory Group analysts again handed out a Market Perform recommendation to Ascena Retail Group, Inc. (NASDAQ:ASNA) stock but they lifted target price for the shares in a flash note issued to investors on December 11. The target price has been raised from $5 to $4. Analysts at B. Riley FBR, Inc. are sticking to their Neutral stance. However, on March 06, they lifted price target for these shares to $2 from $2.50.

ASNA equity has an average rating of 3, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 0 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. 0 analysts rated Ascena Retail Group, Inc. (NASDAQ:ASNA) 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, ASNA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.06 while for the average stock in the same group, the multiple is 2.3.

Ascena Retail Group, Inc. (ASNA)’s current-quarter revenues are projected to climb by nearly -4.64% to hit $1.43 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -2.77% from $6.58 billion to a noteworthy $6.4 billion. At the other end of the current quarter income statement, Ascena Retail Group, Inc. is expected to see its adjusted earnings surge by roughly -375% to hit $-0.38 per share. For the fiscal year, ASNA’s earnings are projected to climb by roughly -2150% to hit $-0.45 per share.