MDC Partners Inc. (NASDAQ:MDCA) is among the top losers of the stock market today, sinking -3.31% or (-0.08 points) to $2.34 from its previous close of $2.42. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 101653 contracts so far this session. MDCA shares had a relatively better volume day versus average trading capacity of 200.26 thousand shares, but with a 67.63 million float and a 4.31% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MDCA stock indicates that the average analyst price target is $3 per share. This means the stock has a potential increase of 28.21% from where the MDCA share price has been trading recently.
During the recent trading session for MDC Partners Inc. (NASDAQ:MDCA), the company witnessed their stock rise $0.07 over a week and tumble down $-0.28 from the price 20 days ago. When compared to their established 52-week high of $3.53, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/27/19. The recent low of $1.65 stood for a -33.71% since 03/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.45 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 MDC Partners Inc., the two-week RSI stands at 43.81. This figure suggests that MDCA 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 MDCA readings is similarly very revealing as it has a stochastic reading of 68.22% at this stage. This figure means that MDCA share price today is being neutral.
Technical chart claims that MDC Partners Inc. (MDCA) would settle between $2.45/share to $2.49/share level. However, if the stock price goes below the $2.36 mark, then the market for MDC Partners Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.3 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. 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 Wells Fargo raised their recommendation on shares of MDCA from Market Perform to Outperform in their opinion released on April 12. Wedbush analysts again handed out a Neutral recommendation to MDC Partners Inc. (NASDAQ:MDCA) stock but they lifted target price for the shares in a flash note issued to investors on February 17. The target price has been raised from $8 to $9. Analysts at Jefferies released an upgrade from Hold to Buy for the stock, in a research note that dated back to February 16.
Moving on, MDCA 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 44.4. MDC Partners Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 2.7.