The stock of Preferred Apartment Communities, Inc. (NYSE:APTS) is now priced at $7.59 and the shares are 0.03 points up or 0.4% higher compared to its previous closing price of $7.56. The stock had 325177 contracts set over the past session. APTS shares’ daily volume is compared to its average trading volume at 588317 shares. However, it has a float of 46.77 million and although its performance was 2.43% over the week, it’s one to watch. Analysts have given the APTS stock a yearly average price target of $8.8 per share. It means the stock’s upside potential is 15.94% with the APTS share price recently placing at $7.4345 to $7.8. However, some brokerage firms have priced the stock below the average, including one that has called $6.5.
The shorts are running away from the Preferred Apartment Communities, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the APTS shares have declined. Short interest in the stock represents just 2.73% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Preferred Apartment Communities, Inc. (NYSE:APTS) raised by $0.18 over the week and lost -$0.64 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $15.32. The stock recorded its established 52-week high on 07/05/19.
Since 04/03/20, the stock has traded to a low of $5.27 at 44.06%, 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 0.81. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Preferred Apartment Communities, Inc.’s two-week RSI is 50. This suggests that the stock is neutral at the moment and that APTS shares’ price movement remains stable. The stochastic readings are equally revealing at 47.98% meaning the APTS share price is currently in neutral territory.
The technical chart shows that the APTS stock will likely settle at between $7.78 and $7.97 per share. However, if the stock dips below $7.42, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.24.
Currently, the stock is trading in the green of MACD, with a reading of 0.12. 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 National Securities cut their recommendation for APTS from Buy to Neutral in February 26 review. National Securities analysts see the stock as a Buy with a target price of $18 in a flash note released to investors on September 16 initiating covering the stock. DA Davidson seeing the stock struggling downgraded it from Buy to Neutral on July 30.
The average rating for the APTS equity is 2.8 and is currently gathering a bullish momentum. Of 5 analysts tracking Preferred Apartment Communities, Inc. polled by Reuters, 4 rated APTS as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 APTS stocks P/S ratio currently stands below the group’s average of 39.8. Preferred Apartment Communities, Inc. has its P/E ratio at 0.2, which means that the stock is currently trading at a discount relative to the 2.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Preferred Apartment Communities, Inc. (NYSE:APTS) will decrease by about -99.9%, which will see them reach $125.02 million. The company’s full-year revenues are, however, expected to increase by about 8.82%, up from $470.43 million to $511.92 million. APTS’s expected adjusted earnings should surge almost 15.15% to end up at -$0.76 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 143.96% to record -$6.66/share.