The stock of Bar Harbor Bankshares (NYSE:BHB) is now priced at $20.3 and the shares are -0.56 points down or -2.68% lower compared to its previous closing price of $20.86. The stock had 36405 contracts set over the past session. BHB shares’ daily volume is compared to its average trading volume at 68540 shares. However, it has a float of 15.25 million and although its performance was -15.06% over the week, it’s one to watch. BHB share price recently placing at $20.26 to $21.66. However, some brokerage firms have priced the stock below the average, including one that has called $26.
The shorts are running away from the Bar Harbor Bankshares stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the BHB shares have declined. Short interest in the stock represents just 1.13% 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, Bar Harbor Bankshares (NYSE:BHB) dropped by -$3.6 over the week and lost -$0.13 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $26.45. The stock recorded its established 52-week high on 12/26/19.
Since 04/16/20, the stock has traded to a low of $13.05 at 55.56%, 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 0.99. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Bar Harbor Bankshares’s two-week RSI is 47.43. This suggests that the stock is neutral at the moment and that BHB shares’ price movement remains stable. The stochastic readings are equally revealing at 43.91% meaning the BHB share price is currently in neutral territory.
The technical chart shows that the BHB stock will likely settle at between $21.22 and $22.14 per share. However, if the stock dips below $19.82, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $19.34.
Currently, the stock is trading in the red of MACD, with a reading of -1.1. 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 RBC Capital Mkts though raised target price of BHB stock from $34 to $37 but maintained Outperform recommendation in their May 01 review. RBC Capital Mkts analysts see the stock as a Outperform with a target price of $32 in a flash note released to investors on January 04 initiating covering the stock.
Elsewhere, the BHB stocks P/S ratio currently stands at 13.7 above the group’s average of 10.4. Bar Harbor Bankshares has its P/E ratio at 0.8, which means that the stock is currently trading at a discount relative to the 0.8 industry average.