MoneyGram International, Inc. (NASDAQ:MGI) is one of the best performers on the stock market today. At current price of $3.38, the shares have already added 0.13 points (3.85% higher) from its previous close of $3.25. Should you buy or avoid them? The stock sets an active trading volume day with a reported 749777 contracts so far this session. MGI shares had a relatively better volume day versus average trading capacity of 2.83 million shares, but with a 30.74 million float and a 11.3% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MGI stock indicates that the average analyst price target is $2.83 per share. This means the stock has a potential decrease of -16.27% from where the MGI share price has been trading recently which is between $3.23 and $3.6589. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.
The shorts are climbing into MoneyGram International, Inc. (MGI) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in MGI shares. While short interest still represents only 14.41% of MGI’s float, the number of shares shorted have risen by 188640. The number of shares shorted advanced to 4620232 shares, up from 4431592 shares during the preceding fortnight. With average daily trading volumes at 1530813 shares, days to cover decreased to about 3.929535 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Should Ripple burn 50% of XRPs supply to pump its price?” and dated August 13, 2019.
During the recent trading session for MoneyGram International, Inc. (NASDAQ:MGI), the company witnessed their stock rise $0.56 over a week and surge $1.33 from the price 20 days ago. When compared to their established 52-week high of $6.84, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/09/18. The recent low of $1.33 stood for a -50.66% since 05/31/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.94 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 MoneyGram International, Inc., the two-week RSI stands at 73.15. This figure suggests that MGI stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current MGI readings is similarly very revealing as it has a stochastic reading of 82.15% at this stage. This figure means that MGI share price today is being oversold.
Technical chart claims that MoneyGram International, Inc. (MGI) would settle between $3.53/share to $3.81/share level. However, if the stock price goes below the $3.1 mark, then the market for MoneyGram International, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.95 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.29. 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 Northland Capital raised their recommendation on shares of MGI from Market Perform to Outperform in their opinion released on April 03. Evercore ISI analysts have lowered their rating of MoneyGram International, Inc. (NASDAQ:MGI) stock from In-line to Underperform in a separate flash note issued to investors on November 09. Analysts at JP Morgan lowered the stock to a Underweight call from its previous Neutral recommendation, in a research note that dated back to December 12.
MGI equity has an average rating of 3.14, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 1 analysts rated MoneyGram International, Inc. (NASDAQ:MGI) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MGI stock price is currently trading at 10.73X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.1 while for the average stock in the same group, the multiple is 3.05.
MoneyGram International, Inc. (MGI)’s current-quarter revenues are projected to climb by nearly -2.95% to hit $336950, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -9.46% from $1.45 billion to a noteworthy $1.31 billion. At the other end of the current quarter income statement, MoneyGram International, Inc. is expected to see its adjusted earnings surge by roughly -79.17% to hit $0.05 per share. For the fiscal year, MGI’s earnings are projected to climb by roughly -71.43% to hit $0.18 per share.