Today’s big question for investors is, “what’s going on with Sequential Brands Group, Inc. (NASDAQ:SQBG) stock? Its price is nose-diving -0.03 points, trading at $0.31 levels, and is down -10.08% from its previous close of $0.34. The shares seem to have an active trading volume day with a reported 137700 contracts so far this session. SQBG shares had a relatively better volume day versus average trading capacity of 125.49 thousand shares, but with a 38.15 million float and a -16.27% run over a week, it’s definitely worth keeping an eye on. SQBG share price has been trading recently between $0.311 and $0.39.
The shorts are running away from Sequential Brands Group, Inc. (SQBG) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in SQBG shares. While short interest still represents only 8.11% of SQBG’s float, the number of shares shorted have fallen by -28093. The number of shares shorted fell to 3065427 shares, down from 3093520 shares during the preceding fortnight. With average daily trading volumes at 97787 shares, days to cover increased to about 15.07093 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of SQBG earnings conference call or presentation 9-Aug-19 12:30pm GMT” and dated August 10, 2019.
During the recent trading session for Sequential Brands Group, Inc. (NASDAQ:SQBG), the company witnessed their stock drop by $-0.1 over a week and tumble down $-0.26 from the price 20 days ago. When compared to their established 52-week high of $2.28, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/03/19. The recent low of $0.3 stood for a -86.58% since 08/13/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.47 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 Sequential Brands Group, Inc., the two-week RSI stands at 29.02. This figure suggests that SQBG stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current SQBG readings is similarly very revealing as it has a stochastic reading of 11.86% at this stage. This figure means that SQBG share price today is being overbought.
Technical chart claims that Sequential Brands Group, Inc. (SQBG) would settle between $0.38/share to $0.43/share level. However, if the stock price goes below the $0.3 mark, then the market for Sequential Brands Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.27 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.07. 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 ROTH Capital lowered their recommendation on shares of SQBG from Buy to Neutral in their opinion released on November 13. Canaccord Genuity analysts have lowered their rating of Sequential Brands Group, Inc. (NASDAQ:SQBG) stock from Buy to Hold in a separate flash note issued to investors on November 10. Analysts at FBR & Co., made their first call for the equity with a Outperform recommendation, according to a research note that dated back to July 11.
SQBG equity has an average rating of 3, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 0 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. 0 analysts rated Sequential Brands Group, Inc. (NASDAQ:SQBG) 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, SQBG stock price is currently trading at 0.95X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.08 while for the average stock in the same group, the multiple is 2.3. Sequential Brands Group, Inc. current P/E ratio of 110.22 means it is trading at a premium against its industry’s 34.75. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
Sequential Brands Group, Inc. (SQBG)’s current-quarter revenues are projected to climb by nearly -23.01% to hit $31.39 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -15.27% from $169960 to a noteworthy $144000. At the other end of the current quarter income statement, Sequential Brands Group, Inc. is expected to see its adjusted earnings surge by roughly 75% to hit $0.07 per share. For the fiscal year, SQBG’s earnings are projected to climb by roughly -9.09% to hit $0.3 per share.