Big changes are happening at SandRidge Energy, Inc. (NYSE:SD), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -4.49% or (-0.31 points) to $6.59 from its previous close of $6.9. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 108700 contracts so far this session. SD shares had a relatively better volume day versus average trading capacity of 321.94 thousand shares, but with a 34.71 million float and a 8.49% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SD stock indicates that the average analyst price target is $14 per share. This means the stock has a potential increase of 112.44% from where the SD share price has been trading recently which is between $6.84 and $7.2. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $14.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “SandRidge Energy, Inc. (SD) Q1 2019 Earnings Call Transcript” and dated May 10, 2019.
During the recent trading session for SandRidge Energy, Inc. (NYSE:SD), the company witnessed their stock rise $0.45 over a week and tumble down $-0.33 from the price 20 days ago. When compared to their established 52-week high of $18.27, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/10/18. The recent low of $5.86 stood for a -63.93% since 06/17/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less 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 SandRidge Energy, Inc., the two-week RSI stands at 46.9. This figure suggests that SD 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 SD readings is similarly very revealing as it has a stochastic reading of 71.35% at this stage. This figure means that SD share price today is being oversold.
Technical chart claims that SandRidge Energy, Inc. (SD) would settle between $7.12/share to $7.34/share level. However, if the stock price goes below the $6.76 mark, then the market for SandRidge Energy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.62 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.27. 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 Seaport Global Securities lowered their recommendation on shares of SD from Buy to Neutral in their opinion released on June 21.
SD equity has an average rating of 3, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 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 SandRidge Energy, Inc. (NYSE:SD) 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, SD stock price is currently trading at 3.12X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.73 while for the average stock in the same group, the multiple is 84.4. SandRidge Energy, Inc. current P/E ratio of 9.28 means it is trading at a premium against its industry’s 4.32. In the past 5 years, this ratio for the stock has been fluctuating between 0.41 and 2.37.