The stock of NetEase, Inc. (NASDAQ:NTES) is now priced at $430.91 and the shares are 3.17 points up or 0.74% higher compared to its previous closing price of $427.74. The stock had 861937 contracts set over the past session. NTES shares’ daily volume is compared to its average trading volume at 868319 shares. However, it has a float of 74.92 million and although its performance was -1.18% over the week, it’s one to watch. Analysts have given the NTES stock a yearly average price target of $440.31 per share. It means the stock’s upside potential is 2.18% with the NTES share price recently placing at $429.46 to $437.69. However, some brokerage firms have priced the stock below the average, including one that has called $¥1,926.42.
The shorts are climbing into the NetEase, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the NTES shares have risen. Short interest in the stock represents just 3.91% of its float, but the volume has raised by 980162. The volume of shorted shares rised to 2.929 million from 1.948 million shares over the last two weeks. The average intraday trading volume has been 1.403 million shares, which means that days to cover moved to roughly 2.087228.
In the last trading session, NetEase, Inc. (NASDAQ:NTES) dropped by -$5.15 over the week and gained $25.9 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $441.87. The stock recorded its established 52-week high on 06/24/20.
Since 08/05/19, the stock has traded to a low of $209.01 at 110.79%, 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 0.74. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, NetEase, Inc.’s two-week RSI is 62.59. This suggests that the stock is neutral at the moment and that NTES shares’ price movement remains stable. The stochastic readings are equally revealing at 68.75% meaning the NTES share price is currently in neutral territory.
The technical chart shows that the NTES stock will likely settle at between $435.91 and $440.92 per share. However, if the stock dips below $427.68, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $424.46.
Currently, the stock is trading in the red of MACD, with a reading of -2.38. 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 Maxim Group assigned NTES a rating of Buy in their intiating review released on June 12. New Street analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $450 in a flash note released to investors on May 21. Standpoint Research seeing the stock struggling downgraded it from Reduce to Hold on May 18.
The average rating for the NTES equity is 1.88 and is currently gathering a bullish momentum. Of 30 analysts tracking NetEase, Inc. polled by Reuters, 5 rated NTES as a hold. The remaining 25 analysts were split evenly. However, the split wasn’t equal as a majority (24) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the NTES stock price is 20.92X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 28.3below the group’s average of 36.6. NetEase, Inc. has its P/E ratio at 6.7, which means that the stock is currently trading at a premium relative to the 5.4 industry average.