The stock of Modine Manufacturing Company (NYSE:MOD) is now priced at $5.49 and the shares are 0.13 points up or 2.43% higher compared to its previous closing price of $5.36. The stock had 271680 contracts set over the past session. MOD shares’ daily volume is compared to its average trading volume at 508204 shares. However, it has a float of 49.12 million and although its performance was 11.36% over the week, it’s one to watch. MOD share price recently placing at $5.36 to $5.59. However, some brokerage firms have priced the stock below the average, including one that has called $4.5.
The shorts are running away from the Modine Manufacturing Company stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the MOD shares have declined. Short interest in the stock represents just 1.49% 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, Modine Manufacturing Company (NYSE:MOD) raised by $0.56 over the week and lost -$0.53 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.96. The stock recorded its established 52-week high on 07/24/19.
Since 04/03/20, the stock has traded to a low of $2.84 at 93.31%, 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 2.35. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Modine Manufacturing Company’s two-week RSI is 54.26. This suggests that the stock is neutral at the moment and that MOD shares’ price movement remains stable. The stochastic readings are equally revealing at 81.85% meaning the MOD share price is currently in oversold territory.
The technical chart shows that the MOD stock will likely settle at between $5.6 and $5.71 per share. However, if the stock dips below $5.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.25.
Currently, the stock is trading in the green of MACD, with a reading of 0.19. 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 Robert W. Baird cut their recommendation for MOD from Outperform to Neutral in November 11 review while maintai their target price of $14 to $9. Dougherty & Company analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on November 08. DA Davidson analysts see the stock as Neutral when the analysts initiated the share price coverage on August 30, placing it at $11.5.
The average rating for the MOD equity is 2.5 and is currently gathering a bullish momentum. Of 4 analysts tracking Modine Manufacturing Company polled by Reuters, 3 rated MOD 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 MOD stock price is 6.17X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 28. Modine Manufacturing Company has its P/E ratio at 0.6, which means that the stock is currently trading at a discount relative to the 1.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Modine Manufacturing Company (NYSE:MOD) will decrease by about -99.93%, which will see them reach $348.56 million. The company’s full-year revenues are, however, expected to diminish by about -18.69%, down from $1.98 billion to $1610 million. MOD’s expected adjusted earnings should drop almost -138.71% to end up at -$0.12 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -76.19% to record $0.25/share.