Today’s big question for investors is, “what’s going on with The Meet Group, Inc. (NASDAQ:MEET) stock? Its price is nose-diving -0.2 points, trading at $4.07 levels, and is down -4.68% from its previous close of $4.27. The shares seem to have an active trading volume day with a reported 614019 contracts so far this session. MEET shares had a relatively better volume day versus average trading capacity of 1.5 million shares, but with a 69.56 million float and a -3.17% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MEET stock indicates that the average analyst price target is $7.67 per share. This means the stock has a potential increase of 88.45% from where the MEET share price has been trading recently which is between $4.25 and $4.45. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.25.
The shorts are climbing into The Meet Group, Inc. (MEET) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in MEET shares. While short interest still represents only 13.8% of MEET’s float, the number of shares shorted have risen by 926295. The number of shares shorted advanced to 9598870 shares, up from 8672575 shares during the preceding fortnight. With average daily trading volumes at 1298467 shares, days to cover decreased to about 9.305857 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Meet Group (NASDAQ:MEET) Shareholders Have Enjoyed An Impressive 119% Share Price Gain” and dated May 22, 2019.
During the recent trading session for The Meet Group, Inc. (NASDAQ:MEET), the company witnessed their stock drop by $-0.23 over a week and tumble down $-1.17 from the price 20 days ago. When compared to their established 52-week high of $6.27, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/04/19. The recent low of $3.16 stood for a -35.09% since 05/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.64 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 The Meet Group, Inc., the two-week RSI stands at 32.24. This figure suggests that MEET 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 MEET readings is similarly very revealing as it has a stochastic reading of 14.01% at this stage. This figure means that MEET share price today is being overbought.
Technical chart claims that The Meet Group, Inc. (MEET) would settle between $4.4/share to $4.52/share level. However, if the stock price goes below the $4.2 mark, then the market for The Meet Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.12 for its downside target.
Analysts at Aegis Capital, assumed coverage of MEET assigning Buy rating, according to their opinion released on May 15. ROTH Capital analysts again handed out a Buy recommendation to The Meet Group, Inc. (NASDAQ:MEET) stock but they lifted target price for the shares in a flash note issued to investors on March 08. The target price has been raised from $4 to $3.25. Analysts at JMP Securities lowered the stock to a Mkt Perform call from its previous Mkt Outperform recommendation, in a research note that dated back to November 09.
MEET equity has an average rating of 1.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 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. 4 analysts rated The Meet Group, Inc. (NASDAQ:MEET) 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, MEET stock price is currently trading at 8.21X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.67 while for the average stock in the same group, the multiple is 8.24. The Meet Group, Inc. current P/E ratio of 14.74 means it is trading at a discount against its industry’s 41.83. In the past 5 years, this ratio for the stock has been fluctuating between 6.15 and 29.71.
The Meet Group, Inc. (MEET)’s current-quarter revenues are projected to climb by nearly 18.34% to hit $50.65 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 18.78% from $178610 to a noteworthy $212150. At the other end of the current quarter income statement, The Meet Group, Inc. is expected to see its adjusted earnings surge by roughly 37.5% to hit $0.11 per share. For the fiscal year, MEET’s earnings are projected to climb by roughly 27.78% to hit $0.46 per share.