Amira Nature Foods Ltd. (NYSE:ANFI) is among the top gainers of the stock market today, skyrocketing 7.25% or (0.04 points) to $0.59 from its previous close of $0.55. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 120646 contracts so far this session. ANFI shares had a relatively better volume day versus average trading capacity of 428.31 thousand shares, but with a 32.03 million float and a -8.33% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ANFI stock indicates that the average analyst price target is $6 per share. This means the stock has a potential increase of 916.95% from where the ANFI share price has been trading recently which is between $0.52 and $0.57.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Amira Nature Foods Ltd Provides Update on Edible Oils Business With $4.2mn Sales Since April 1, 2019” and dated July 23, 2019.
During the recent trading session for Amira Nature Foods Ltd. (NYSE:ANFI), the company witnessed their stock drop by $-0.03 over a week and tumble down $-0.13 from the price 20 days ago. When compared to their established 52-week high of $1.87, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/09/18. The recent low of $0.3 stood for a -68.45% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.33 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 Amira Nature Foods Ltd., the two-week RSI stands at 34.98. This figure suggests that ANFI 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 ANFI readings is similarly very revealing as it has a stochastic reading of 24.45% at this stage. This figure means that ANFI share price today is being overbought.
Technical chart claims that Amira Nature Foods Ltd. (ANFI) would settle between $0.57/share to $0.6/share level. However, if the stock price goes below the $0.52 mark, then the market for Amira Nature Foods Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $0.5 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.02. 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 KeyBanc Capital Mkts, assumed coverage of ANFI assigning Sector Weight rating, according to their opinion released on April 19. Jefferies, analysts launched coverage of Amira Nature Foods Ltd. (NYSE:ANFI) stock with a Buy recommendation, according to their flash note issued to investors on September 21. Analysts at BMO Capital Markets, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to May 01.
Moving on, ANFI stock price is currently trading at 1.25X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.44 while for the average stock in the same group, the multiple is 1.73. Amira Nature Foods Ltd. current P/E ratio of 7.24 means it is trading at a discount against its industry’s 21.94. In the past 5 years, this ratio for the stock has been fluctuating between 6.15 and 16.43.