Golar LNG Partners LP (NASDAQ:GMLP) is among the top gainers of the stock market today, skyrocketing 2.5% or (0.13 points) to $5.13 from its previous close of $5. 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 347615 contracts so far this session. GMLP shares had a relatively better volume day versus average trading capacity of 511.88 thousand shares, but with a 47.92 million float and a -11.35% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GMLP stock indicates that the average analyst price target is $10.28 per share. This means the stock has a potential increase of 100.39% from where the GMLP share price has been trading recently.
During the recent trading session for Golar LNG Partners LP (NASDAQ:GMLP), the company witnessed their stock drop by $-0.05 over a week and tumble down $-3.57 from the price 20 days ago. When compared to their established 52-week high of $14.28, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/15/19. The recent low of $4.6 stood for a -64.11% since 10/02/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.96 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 Golar LNG Partners LP, the two-week RSI stands at 24.76. This figure suggests that GMLP stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current GMLP readings is similarly very revealing as it has a stochastic reading of 12.06% at this stage. This figure means that GMLP share price today is being overbought.
Technical chart claims that Golar LNG Partners LP (GMLP) would settle between $5.07/share to $5.14/share level. However, if the stock price goes below the $4.91 mark, then the market for Golar LNG Partners LP becomes much weaker. If that happens, the stock price might even plunge as low as $4.82 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.42. 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 Odeon lowered their recommendation on shares of GMLP from Hold to Sell in their opinion released on February 04. Evercore ISI analysts have lowered their rating of Golar LNG Partners LP (NASDAQ:GMLP) stock from Outperform to In-line in a separate flash note issued to investors on January 23. Analysts at BofA/Merrill lowered the stock to a Underperform call from its previous Neutral recommendation, in a research note that dated back to March 01.
GMLP equity has an average rating of 2.4, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 5 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. 3 analysts rated Golar LNG Partners LP (NASDAQ:GMLP) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, GMLP stock price is currently trading at 5.17X 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 19.1. Golar LNG Partners LP current P/B ratio of 0.6 means it is trading at a discount against its industry’s 2.
Golar LNG Partners LP (GMLP)’s current-quarter revenues are projected to climb by nearly -0.8% to hit $79.35 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -13.9% from $346650 to a noteworthy $298510. At the other end of the current quarter income statement, Golar LNG Partners LP is expected to see its adjusted earnings surge by roughly 188.9% to hit $0.24 per share. For the fiscal year, GMLP’s earnings are projected to climb by roughly -42.3% to hit $0.6 per share.