What just happened? Sky Solar Holdings, Ltd. (NASDAQ:SKYS) stock value has climbed by nearly 3.66% or (0.02 points) to $0.64 from its previous close of $0.62. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 142784 contracts so far this session. SKYS shares had a relatively better volume day versus average trading capacity of 1.31 million shares, but with a 6.03 million float and a -1.59% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SKYS stock indicates that the average analyst price target is $5 per share. This means the stock has a potential increase of 681.25% from where the SKYS share price has been trading recently which is between $0.6101 and $0.6398.
The shorts are climbing into Sky Solar Holdings, Ltd. (SKYS) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in SKYS shares. While short interest still represents only 0.31% of SKYS’s float, the number of shares shorted have risen by 245. The number of shares shorted advanced to 18792 shares, up from 18547 shares during the preceding fortnight. With average daily trading volumes at 106416 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Sky Solar Holdings, Ltd. Announces Extension of Time to Cure Deficiency” and dated March 22, 2019.
During the recent trading session for Sky Solar Holdings, Ltd. (NASDAQ:SKYS), the company witnessed their stock rise $0.02 over a week and tumble down $-0.08 from the price 20 days ago. When compared to their established 52-week high of $1.58, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/15/19. The recent low of $0.45 stood for a -59.32% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.3 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 Sky Solar Holdings, Ltd., the two-week RSI stands at 38.76. This figure suggests that SKYS 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 SKYS readings is similarly very revealing as it has a stochastic reading of 33.87% at this stage. This figure means that SKYS share price today is being neutral.
Technical chart claims that Sky Solar Holdings, Ltd. (SKYS) would settle between $0.64/share to $0.65/share level. However, if the stock price goes below the $0.61 mark, then the market for Sky Solar Holdings, Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $0.59 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.01. 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 ROTH Capital raised their recommendation on shares of SKYS from Neutral to Buy in their opinion released on October 11. ROTH Capital analysts have lowered their rating of Sky Solar Holdings, Ltd. (NASDAQ:SKYS) stock from Buy to Neutral in a separate flash note issued to investors on June 16. Analysts at ROTH Capital are sticking to their Buy stance. However, on November 25, they lifted price target for these shares to $10 from $12.
Moving on, SKYS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.31 while for the average stock in the same group, the multiple is 189. Sky Solar Holdings, Ltd. current P/E ratio of 16.61 means it is trading at a premium against its industry’s 7.12. In the past 5 years, this ratio for the stock has been fluctuating between 29.59 and 29.59.