Why iPic Entertainment Inc. (IPIC) Stock Plunged Today

iPic Entertainment Inc. (NASDAQ:IPIC) is one of the worst performers on the stock market today. At current price of $0.65, the shares have already lost -0.15 points (-18.75% lower) from its previous close of $0.8. Should you buy or avoid them? The stock sets an active trading volume day with a reported 174641 contracts so far this session. IPIC shares had a relatively better volume day versus average trading capacity of 45.58 million shares, but with a 4.05 million float and a -3.61% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for IPIC stock indicates that the average analyst price target is $5 per share. This means the stock has a potential increase of 669.23% from where the IPIC share price has been trading recently which is between $0.75 and $0.99.

The shorts are climbing into iPic Entertainment Inc. (IPIC) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in IPIC shares. While short interest still represents only 4.02% of IPIC’s float, the number of shares shorted have risen by 36376. The number of shares shorted advanced to 199246 shares, up from 162870 shares during the preceding fortnight. With average daily trading volumes at 30663 shares, days to cover decreased to about 34.70488 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Alabama Pension Funds Star in IPic Theater Bankruptcy” and dated August 09, 2019.

During the recent trading session for iPic Entertainment Inc. (NASDAQ:IPIC), the company witnessed their stock rise $0.06 over a week and tumble down $-2.15 from the price 20 days ago. When compared to their established 52-week high of $10.45, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/18/18. The recent low of $0.46 stood for a -93.78% since 07/08/19, 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 iPic Entertainment Inc., the two-week RSI stands at 31.37. This figure suggests that IPIC 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 IPIC readings is similarly very revealing as it has a stochastic reading of 10.26% at this stage. This figure means that IPIC share price today is being overbought.

Technical chart claims that iPic Entertainment Inc. (IPIC) would settle between $0.94/share to $1.09/share level. However, if the stock price goes below the $0.7 mark, then the market for iPic Entertainment Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.61 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.13. 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 Telsey Advisory Group lowered their recommendation on shares of IPIC from Market Perform to Underperform in their opinion released on July 30. Barrington Research analysts have lowered their rating of iPic Entertainment Inc. (NASDAQ:IPIC) stock from Outperform to Mkt Perform in a separate flash note issued to investors on January 02. Analysts at Telsey Advisory Group lowered the stock to a Market Perform call from its previous Outperform recommendation, in a research note that dated back to November 07.