Craft Brew Alliance, Inc. (NASDAQ:BREW) is among the top losers of the stock market today, sinking -3.46% or (-0.58 points) to $16.2 from its previous close of $16.78. 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 101680 contracts so far this session. BREW shares had a relatively better volume day versus average trading capacity of 98.18 million shares, but with a 11.25 million float and a 15.17% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BREW stock indicates that the average analyst price target is $19.25 per share. This means the stock has a potential increase of 18.83% from where the BREW share price has been trading recently which is between $16.64 and $17.19. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $16.
The shorts are running away from Craft Brew Alliance, Inc. (BREW) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a drop in short interest in BREW shares. While short interest still represents only 7.37% of BREW’s float, the number of shares shorted have fallen by -9692. The number of shares shorted fell to 818856 shares, down from 828548 shares during the preceding fortnight. With average daily trading volumes at 121041 shares, days to cover decreased to about 13.10931 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Heres What Hedge Funds Think About Craft Brew Alliance Inc (BREW)” and dated June 28, 2019.
During the recent trading session for Craft Brew Alliance, Inc. (NASDAQ:BREW), the company witnessed their stock rise $1.27 over a week and surge $2.37 from the price 20 days ago. When compared to their established 52-week high of $20.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/16/18. The recent low of $13.15 stood for a -20.59% since 04/25/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.44 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 Craft Brew Alliance, Inc., the two-week RSI stands at 66.29. This figure suggests that BREW 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 BREW readings is similarly very revealing as it has a stochastic reading of 87.75% at this stage. This figure means that BREW share price today is being oversold.
Technical chart claims that Craft Brew Alliance, Inc. (BREW) would settle between $17.1/share to $17.42/share level. However, if the stock price goes below the $16.55 mark, then the market for Craft Brew Alliance, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.32 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.26. 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 Maxim Group, assumed coverage of BREW assigning Buy rating, according to their opinion released on May 03. Maxim Group, analysts launched coverage of Craft Brew Alliance, Inc. (NASDAQ:BREW) stock with a Buy recommendation, according to their flash note issued to investors on May 03. Analysts at Maxim Group, made their first call for the equity with a Buy recommendation, according to a research note that dated back to January 17.
BREW equity has an average rating of 2.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 2 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. 2 analysts rated Craft Brew Alliance, Inc. (NASDAQ:BREW) 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, BREW stock price is currently trading at 55.75X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.61 while for the average stock in the same group, the multiple is 5.03.