The biggest gainers of the session on the Wall Street include Spartan Motors, Inc. (NASDAQ:SPAR), which rose 0.55 points or 4.18% to trade at $13.71 as last check. The stock closed last session at $13.16 and sets an active trading volume day with a reported 199425 contracts so far this session. SPAR shares had a relatively better volume day versus average trading capacity of 201.16 thousand shares, but with a 31.56 million float and a 10.4% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SPAR stock indicates that the average analyst price target is $17.67 per share. This means the stock has a potential increase of 28.88% from where the SPAR share price has been trading recently which is between $12.19 and $13.33. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $15.
The shorts are climbing into Spartan Motors, Inc. (SPAR) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in SPAR shares. While short interest still represents only 2.69% of SPAR’s float, the number of shares shorted have risen by 83102. The number of shares shorted advanced to 847684 shares, up from 764582 shares during the preceding fortnight. With average daily trading volumes at 223096 shares, days to cover increased to about 3.067248 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Spartan Motors Acquires Royal Truck Body” and dated September 10, 2019.
During the recent trading session for Spartan Motors, Inc. (NASDAQ:SPAR), the company witnessed their stock rise $1.98 over a week and surge $1.5 from the price 20 days ago. When compared to their established 52-week high of $16, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/20/18. The recent low of $6.7 stood for a -14.31% since 10/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.41 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 Spartan Motors, Inc., the two-week RSI stands at 70.47. This figure suggests that SPAR 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 SPAR readings is similarly very revealing as it has a stochastic reading of 82.34% at this stage. This figure means that SPAR share price today is being oversold.
Technical chart claims that Spartan Motors, Inc. (SPAR) would settle between $13.6/share to $14.03/share level. However, if the stock price goes below the $12.46 mark, then the market for Spartan Motors, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $11.75 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.61. 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 Sidoti, assumed coverage of SPAR assigning Buy rating, according to their opinion released on December 01. Seaport Global Securities, analysts launched coverage of Spartan Motors, Inc. (NASDAQ:SPAR) stock with a Buy recommendation, according to their flash note issued to investors on April 06. Analysts at ROTH Capital, made their first call for the equity with a Buy recommendation, according to a research note that dated back to January 25.
SPAR 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 Spartan Motors, Inc. (NASDAQ:SPAR) 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, SPAR stock price is currently trading at 13.96X forward 12-month Consensus EPS estimates, and its P/E ratio is 28.61 while for the average stock in the same group, the multiple is 7.59. Spartan Motors, Inc. current P/B ratio of 2.48 means it is trading at a premium against its industry’s 1.36.
Spartan Motors, Inc. (SPAR)’s current-quarter revenues are projected to climb by nearly 11.95% to hit $253200, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 19.99% from $816160 to a noteworthy $979300. At the other end of the current quarter income statement, Spartan Motors, Inc. is expected to see its adjusted earnings surge by roughly 52.94% to hit $0.26 per share. For the fiscal year, SPAR’s earnings are projected to climb by roughly 54.17% to hit $0.74 per share.