The stock of Lands’ End, Inc. (NASDAQ:LE) is now priced at $7.99 and the shares are 0.18 points up or 2.3% higher compared to its previous closing price of $7.81. The stock had 366124 contracts set over the past session. LE shares’ daily volume is compared to its average trading volume at 377307 shares. However, it has a float of 15900000 and although it’s -0.99% over the week, it’s one to watch. Analysts have given the LE stock a yearly average price target of $7 per share. It means the stock’s downside potential is -12.39% with the LE share price recently placing at $7.6993 to $8.34. However, some brokerage firms have priced the stock below the average, including one that has called $7.
The shorts are running away from the Lands’ End, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the LE shares have declined. Short interest in the stock represents just 11.02% of its float, but the volume has dropped by -511974. The volume of shorted shares dropped to 1751199 from 2263173 shares over the last two weeks. The average intraday trading volume has been 525600 shares, which means that days to cover moved to roughly 3.331809.
In the last trading session, Lands’ End, Inc. (NASDAQ:LE) dropped by -$0.08 over the week and gained $0.77 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.39. The stock recorded its established 52-week high on 12/20/19.
Since 04/03/20, the stock has traded to a low of $4.05 at -56.55%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.99. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Lands’ End, Inc.’s two-week RSI is 48.79. This suggests that the stock is neutral at the moment and that LE shares’ price movement remains stable. The stochastic readings are equally revealing at 19.21% meaning the LE share price is currently in overbought territory.
The technical chart shows that the LE stock will likely settle at between $8.32 and $8.65 per share. However, if the stock dips below $7.68, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.37.
Currently, the stock is trading in the red of MACD, with a reading of -0.36. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Craig Hallum cut their recommendation for LE from Buy to Hold in March 16 review while maintaing their target price of $7. CL King analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on September 26.
The average rating for the LE equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Lands’ End, Inc. polled by Reuters, 2 rated LE as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the LE stock price is 35.51X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 47 above the group’s average of 36.7. Lands’ End, Inc. has its P/E ratio at 0.8, which means that the stock is currently trading at a discount relative to the 6.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Lands’ End, Inc. (NASDAQ:LE) will decrease by about -99.87%, which will see them reach $0.275 billion. The company’s full-year revenues are, however, expected to diminish by about -7.59%, down from $1.45 billion to $1.34 billion. LE’s expected adjusted earnings should surge almost 244.44% to end up at -$0.31 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -113.33% to record -$0.08/share.