The Lovesac Company (NASDAQ:LOVE) is a stock to watch today. At current price of $13.65, the shares have already added 0.91 points (7.16% higher) from its previous close of $12.74. The stock sets an active trading volume day with a reported 113056 contracts so far this session. LOVE shares had a relatively better volume day versus average trading capacity of 421.18 thousand shares, but with a 11.32 million float and a -12.74% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LOVE stock indicates that the average analyst price target is $26.33 per share. This means the stock has a potential increase of 92.89% from where the LOVE share price has been trading recently.
During the recent trading session for The Lovesac Company (NASDAQ:LOVE), the company witnessed their stock drop by $-1.28 over a week and surge $0.83 from the price 20 days ago. When compared to their established 52-week high of $46.79, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 07/05/19. The recent low of $10.33 stood for a -70.82% since 12/13/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 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 The Lovesac Company, the two-week RSI stands at 47.75. This figure suggests that LOVE 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 LOVE readings is similarly very revealing as it has a stochastic reading of 17.61% at this stage. This figure means that LOVE share price today is being overbought.
Technical chart claims that The Lovesac Company (LOVE) would settle between $12.96/share to $13.17/share level. However, if the stock price goes below the $12.57 mark, then the market for The Lovesac Company becomes much weaker. If that happens, the stock price might even plunge as low as $12.39 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.97. 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 LOVE from Buy to Hold in their opinion released on December 13. Canaccord Genuity, analysts launched coverage of The Lovesac Company (NASDAQ:LOVE) stock with a Buy recommendation, according to their flash note issued to investors on September 17. Analysts at Stifel, made their first call for the equity with a Buy recommendation, according to a research note that dated back to June 21.
LOVE equity has an average rating of 1.83, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 1 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 no rated it as a sell. 5 analysts rated The Lovesac Company (NASDAQ:LOVE) 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, LOVE stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 16.9. The Lovesac Company current P/B ratio of 2.2 means it is trading at a discount against its industry’s 2.8.
The Lovesac Company (LOVE)’s current-quarter revenues are projected to climb by nearly 41.5% to hit $90.8 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 39.9% from $165880 to a noteworthy $232010. At the other end of the current quarter income statement, The Lovesac Company is expected to see its adjusted earnings surge by roughly -39.7% to hit $0.38 per share. For the fiscal year, LOVE’s earnings are projected to climb by roughly -468.4% to hit $-1.08 per share.