Here’s Why Just Energy Group Inc. (JE) Took A Beating Today

The biggest losers of the session on the Wall Street include Just Energy Group Inc. (NYSE:JE), which fell -0.18 points or -11.35% to trade at $1.45 as last check. The stock closed last session at $1.63 and sets an active trading volume day with a reported 998170 contracts so far this session. JE shares had a relatively better volume day versus average trading capacity of 858.93 thousand shares, but with a 0.1 billion float and a 49.54% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for JE stock indicates that the average analyst price target is $7.88 per share. This means the stock has a potential increase of 443.45% from where the JE share price has been trading recently which is between $1.23 and $1.64. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.5.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “SHAREHOLDER ALERT: EGBN JE GVA VAL: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines” and dated September 12, 2019.

During the recent trading session for Just Energy Group Inc. (NYSE:JE), the company witnessed their stock rise $0.15 over a week and tumble down $-1.67 from the price 20 days ago. When compared to their established 52-week high of $4.42, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/22/19. The recent low of $1.08 stood for a -67.31% since 04/09/19, 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 Just Energy Group Inc., the two-week RSI stands at 37.3. This figure suggests that JE 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 JE readings is similarly very revealing as it has a stochastic reading of 80.24% at this stage. This figure means that JE share price today is being oversold.

Technical chart claims that Just Energy Group Inc. (JE) would settle between $1.77/share to $1.91/share level. However, if the stock price goes below the $1.36 mark, then the market for Just Energy Group Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.09 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.17. 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 CIBC raised their recommendation on shares of JE from Sector Underperform to Neutral in their opinion released on August 22. CIBC analysts have lowered their rating of Just Energy Group Inc. (NYSE:JE) stock from Neutral to Sector Underperform in a separate flash note issued to investors on August 16. Analysts at Canaccord Genuity lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to May 13.

JE equity has an average rating of 2.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 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. 2 analysts rated Just Energy Group Inc. (NYSE:JE) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, JE stock price is currently trading at 3.13X forward 12-month Consensus EPS estimates, and its P/E ratio is 11.64 while for the average stock in the same group, the multiple is 17.27. Just Energy Group Inc. current P/B ratio of NA means it is trading at a premium against its industry’s 2.05.