Today’s big question for investors is, “what’s going on with Overstock.com, Inc. (NASDAQ:OSTK) stock? Its price is jumping 0.66 points, trading at $17.88 levels, and is up 3.83% from its previous close of $17.22. The shares seem to have an active trading volume day with a reported 799649 contracts so far this session. OSTK shares had a relatively better volume day versus average trading capacity of 3.61 million shares, but with a 28.26 million float and a 3.49% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OSTK stock indicates that the average analyst price target is $48 per share. This means the stock has a potential increase of 168.46% from where the OSTK share price has been trading recently which is between $17.05 and $19.0662. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $48.
The shorts are climbing into Overstock.com, Inc. (OSTK) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in OSTK shares. While short interest still represents only 56.18% of OSTK’s float, the number of shares shorted have risen by 371567. The number of shares shorted advanced to 15876346 shares, up from 15504779 shares during the preceding fortnight. With average daily trading volumes at 5770185 shares, days to cover decreased to about 15.07968 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “4 Charts Suggest It’s Time to Buy Online Retail Stocks” and dated July 16, 2019.
During the recent trading session for Overstock.com, Inc. (NASDAQ:OSTK), the company witnessed their stock rise $0.81 over a week and surge $8.21 from the price 20 days ago. When compared to their established 52-week high of $48, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/08/18. The recent low of $8.96 stood for a -62.75% since 07/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.41 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 Overstock.com, Inc., the two-week RSI stands at 67.54. This figure suggests that OSTK 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 OSTK readings is similarly very revealing as it has a stochastic reading of 81.21% at this stage. This figure means that OSTK share price today is being oversold.
Technical chart claims that Overstock.com, Inc. (OSTK) would settle between $18.51/share to $19.79/share level. However, if the stock price goes below the $16.49 mark, then the market for Overstock.com, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $15.76 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.99. 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 OSTK assigning Buy rating, according to their opinion released on July 16. Maxim Group, analysts launched coverage of Overstock.com, Inc. (NASDAQ:OSTK) stock with a Buy recommendation, according to their flash note issued to investors on September 10. Analysts at DA Davidson, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 07.
OSTK equity has an average rating of 1, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 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. 1 analysts rated Overstock.com, Inc. (NASDAQ:OSTK) 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, OSTK stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.35 while for the average stock in the same group, the multiple is 5.97.
Overstock.com, Inc. (OSTK)’s current-quarter revenues are projected to climb by nearly -20.19% to hit $385600, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -10.69% from $1.82 billion to a noteworthy $1.63 billion. At the other end of the current quarter income statement, Overstock.com, Inc. is expected to see its adjusted earnings surge by roughly 58.18% to hit $-0.92 per share. For the fiscal year, OSTK’s earnings are projected to climb by roughly 46.7% to hit $-3.31 per share.