Today’s big question for investors is, “what’s going on with Freedom Holding Corp. (NASDAQ:FRHC) stock? Its price is jumping 0.55 points, trading at $14.7 levels, and is up 3.89% from its previous close of $14.15. The shares seem to have an active trading volume day with a reported 174534 contracts so far this session. FRHC shares had a relatively better volume day versus average trading capacity of 53.35 million shares, but with a 15.62 million float and a 3.74% run over a week, it’s definitely worth keeping an eye on. FRHC share price has been trading recently between $13.82 and $14.23. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $26. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $26.
During the recent trading session for Freedom Holding Corp. (NASDAQ:FRHC), the company witnessed their stock rise $0.9 over a week and surge $0.72 from the price 20 days ago. When compared to their established 52-week high of $14.76, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/11/19. The recent low of $7.2 stood for a 1.8% since 08/04/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -0.2 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. At the moment, the median target price for FRHC is set at $26, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Freedom Holding Corp., the two-week RSI stands at 72.56. This figure suggests that FRHC 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 FRHC readings is similarly very revealing as it has a stochastic reading of 94.99% at this stage. This figure means that FRHC share price today is being oversold.
Technical chart claims that Freedom Holding Corp. (FRHC) would settle between $14.31/share to $14.48/share level. However, if the stock price goes below the $13.9 mark, then the market for Freedom Holding Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $13.66 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.35. 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.
Moving on, FRHC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 37.4 while for the average stock in the same group, the multiple is 12.7. Freedom Holding Corp. current P/B ratio of 6.5 means it is trading at a premium against its industry’s 1.5.