An interesting stock that came up in some of our conversations today is Global Eagle Entertainment Inc. (NASDAQ:ENT). At current price of $0.74, the shares have already added 0.04 points (4.54% higher) from its previous close of $0.7. Should you buy or avoid them? The stock sets an active trading volume day with a reported 211992 contracts so far this session. ENT shares had a relatively better volume day versus average trading capacity of 1.52 million shares, but with a 72.1 million float and a 25.83% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ENT stock indicates that the average analyst price target is $4.75 per share. This means the stock has a potential increase of 541.89% from where the ENT share price has been trading recently which is between $0.6637 and $0.7068. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.5.
The shorts are climbing into Global Eagle Entertainment Inc. (ENT) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in ENT shares. While short interest still represents only 6.45% of ENT’s float, the number of shares shorted have risen by 252147. The number of shares shorted advanced to 4648795 shares, up from 4396648 shares during the preceding fortnight. With average daily trading volumes at 991029 shares, days to cover increased to about 3.159254 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Do Options Traders Know Something About Global Eagle Entertainment (ENT) Stock We Don’t?” and dated June 17, 2019.
During the recent trading session for Global Eagle Entertainment Inc. (NASDAQ:ENT), the company witnessed their stock rise $0.17 over a week and tumble down $-0.28 from the price 20 days ago. When compared to their established 52-week high of $3.16, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/06/18. The recent low of $0.42 stood for a -76.68% since 06/07/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.38 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 Global Eagle Entertainment Inc., the two-week RSI stands at 54.19. This figure suggests that ENT 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 ENT readings is similarly very revealing as it has a stochastic reading of 77.29% at this stage. This figure means that ENT share price today is being oversold.
Technical chart claims that Global Eagle Entertainment Inc. (ENT) would settle between $0.72/share to $0.73/share level. However, if the stock price goes below the $0.68 mark, then the market for Global Eagle Entertainment Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.65 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.08. 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 William Blair lowered their recommendation on shares of ENT from Mkt Perform to Underperform in their opinion released on March 20. Citigroup analysts have lowered their rating of Global Eagle Entertainment Inc. (NASDAQ:ENT) stock from Neutral to Sell in a separate flash note issued to investors on October 26. Analysts at Dougherty & Company lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to February 22.
Moving on, ENT stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.51 while for the average stock in the same group, the multiple is 0.89. Global Eagle Entertainment Inc. current P/E ratio of 9.22 means it is trading at a discount against its industry’s 10.8. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
Global Eagle Entertainment Inc. (ENT)’s current-quarter revenues are projected to climb by nearly -0.26% to hit $165530, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 3.05% from $647090 to a noteworthy $666820. At the other end of the current quarter income statement, Global Eagle Entertainment Inc. is expected to see its adjusted earnings surge by roughly 34% to hit $-0.33 per share. For the fiscal year, ENT’s earnings are projected to climb by roughly 46.33% to hit $-1.39 per share.