It’s understandable why traders are protecting Hawaiian Holdings, Inc. (HA)

Hawaiian Holdings, Inc. (NASDAQ:HA) is one of the stocks that are grabbing investor focus today: skyrocketing 5.18% or (1.32 points) to $26.79 from its previous close of $25.47. 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 655162 contracts so far this session. HA shares had a relatively better volume day versus average trading capacity of 602.54 thousand shares, but with a 46.1 million float and a 4.34% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for HA stock indicates that the average analyst price target is $26.33 per share. This means the stock has a potential decrease of -1.72% from where the HA share price has been trading recently which is between $24.17 and $25.51.

The shorts are running away from Hawaiian Holdings, Inc. (HA) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a drop in short interest in HA shares. While short interest still represents only 11.54% of HA’s float, the number of shares shorted have fallen by -1097630. The number of shares shorted fell to 5317269 shares, down from 6414899 shares during the preceding fortnight. With average daily trading volumes at 670949 shares, days to cover decreased to about 9.513335 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Airline Stock Roundup: SAVE, JBLU’s Bearish Q3 Views, DAL’s Traffic Report & More” and dated September 10, 2019.

During the recent trading session for Hawaiian Holdings, Inc. (NASDAQ:HA), the company witnessed their stock rise $3.26 over a week and surge $1.27 from the price 20 days ago. When compared to their established 52-week high of $41.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/21/18. The recent low of $22.84 stood for a -34.81% since 08/21/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.74 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 Hawaiian Holdings, Inc., the two-week RSI stands at 60.2. This figure suggests that HA 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 HA readings is similarly very revealing as it has a stochastic reading of 82.8% at this stage. This figure means that HA share price today is being oversold.

Technical chart claims that Hawaiian Holdings, Inc. (HA) would settle between $25.93/share to $26.39/share level. However, if the stock price goes below the $24.59 mark, then the market for Hawaiian Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $23.71 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.02. 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 Stifel lowered their recommendation on shares of HA from Buy to Sell in their opinion released on August 21. Cowen analysts again handed out a Market Perform recommendation to Hawaiian Holdings, Inc. (NASDAQ:HA) stock but they lifted target price for the shares in a flash note issued to investors on July 31. The target price has been raised from $31 to $29. Analysts at Macquarie lowered the stock to a Neutral call from its previous Outperform recommendation, in a research note that dated back to July 29.

HA equity has an average rating of 3.54, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 5 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 Hawaiian Holdings, Inc. (NASDAQ:HA) as a buy or a strong buy while 4 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, HA stock price is currently trading at 6.42X forward 12-month Consensus EPS estimates, and its P/E ratio is 5.3 while for the average stock in the same group, the multiple is 10.13. Hawaiian Holdings, Inc. current P/B ratio of 1.2 means it is trading at a premium against its industry’s 1.17.

Hawaiian Holdings, Inc. (HA)’s current-quarter revenues are projected to climb by nearly -3.19% to hit $734850, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -1.05% from $2.84 billion to a noteworthy $2.81 billion. At the other end of the current quarter income statement, Hawaiian Holdings, Inc. is expected to see its adjusted earnings surge by roughly -31.41% to hit $1.31 per share. For the fiscal year, HA’s earnings are projected to climb by roughly -26.65% to hit $3.99 per share.