Today’s big question for investors is, “what’s going on with HighPoint Resources Corporation (NYSE:HPR) stock? Its price is nose-diving -0.07 points, trading at $2.21 levels, and is down -3.07% from its previous close of $2.28. The shares seem to have an active trading volume day with a reported 746303 contracts so far this session. HPR shares had a relatively better volume day versus average trading capacity of 1.56 million shares, but with a 0.11 billion float and a 0.88% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HPR stock indicates that the average analyst price target is $5.18 per share. This means the stock has a potential increase of 134.39% from where the HPR share price has been trading recently which is between $2.2 and $2.29. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of HPR.N earnings conference call or presentation 7-May-19 2:00pm GMT” and dated May 13, 2019.
During the recent trading session for HighPoint Resources Corporation (NYSE:HPR), the company witnessed their stock drop by $-0.05 over a week and tumble down $-0.56 from the price 20 days ago. When compared to their established 52-week high of $7.6, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/22/18. The recent low of $2.06 stood for a -70.92% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 3.28 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 HighPoint Resources Corporation, the two-week RSI stands at 34.88. This figure suggests that HPR 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 HPR readings is similarly very revealing as it has a stochastic reading of 17.24% at this stage. This figure means that HPR share price today is being overbought.
Technical chart claims that HighPoint Resources Corporation (HPR) would settle between $2.31/share to $2.35/share level. However, if the stock price goes below the $2.22 mark, then the market for HighPoint Resources Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $2.17 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.02. 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 JP Morgan lowered their recommendation on shares of HPR from Overweight to Underweight in their opinion released on December 07. MKM Partners, analysts launched coverage of HighPoint Resources Corporation (NYSE:HPR) stock with a Buy recommendation, according to their flash note issued to investors on December 06. Analysts at Seaport Global Securities released an upgrade from Neutral to Buy for the stock, in a research note that dated back to September 07.
HPR equity has an average rating of 2.25, with the figure leaning towards a bullish end. 12 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 8 analysts rated HighPoint Resources Corporation (NYSE:HPR) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, HPR stock price is currently trading at 19.49X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.03 while for the average stock in the same group, the multiple is 94.71. HighPoint Resources Corporation current P/E ratio of 10.41 means it is trading at a premium against its industry’s 4.84. In the past 5 years, this ratio for the stock has been fluctuating between 3.89 and 36.58.
HighPoint Resources Corporation (HPR)’s current-quarter revenues are projected to climb by nearly 6.69% to hit $117790, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 12.75% from $453020 to a noteworthy $510770. At the other end of the current quarter income statement, HighPoint Resources Corporation is expected to see its adjusted earnings surge by roughly 0% to hit $-0.02 per share. For the fiscal year, HPR’s earnings are projected to climb by roughly 33.33% to hit $-0.02 per share.