The stock of Duluth Holdings Inc. (NASDAQ:DLTH) is now priced at $7.27 and the shares are -0.25 points down or -3.32% lower compared to its previous closing price of $7.52. The stock had 364188 contracts set over the past session. DLTH shares’ daily volume is compared to its average trading volume at 423327 shares. However, it has a float of 19.28 million and although its performance was -0.27% over the week, it’s one to watch. Analysts have given the DLTH stock a yearly average price target of $6.67 per share. It means the stock’s downside potential is -8.25% with the DLTH share price recently placing at $6.94 to $7.79. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are running away from the Duluth Holdings Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the DLTH shares have declined. Short interest in the stock represents just 15.06% of its float, but the volume has dropped by -222236. The volume of shorted shares dropped to 2.903 million from 3.125 million shares over the last two weeks. The average intraday trading volume has been 874068 shares, which means that days to cover moved to roughly 3.321482.
In the last trading session, Duluth Holdings Inc. (NASDAQ:DLTH) dropped by -$0.02 over the week and gained $0.03 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.03. The stock recorded its established 52-week high on 07/08/19.
Since 03/19/20, the stock has traded to a low of $2.82 at 158.26%, 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 1.1. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Duluth Holdings Inc.’s two-week RSI is 56.6. This suggests that the stock is neutral at the moment and that DLTH shares’ price movement remains stable. The stochastic readings are equally revealing at 48.58% meaning the DLTH share price is currently in neutral territory.
The technical chart shows that the DLTH stock will likely settle at between $7.73 and $8.18 per share. However, if the stock dips below $6.88, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.48.
Currently, the stock is trading in the green of MACD, with a reading of 0.13. 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 DLTH from Outperform to Neutral in March 20 review while maintai their target price of $5. Robert W. Baird analysts upgraded their recommendation of the stock from Neutral to Outperform while keeping its target price at $22 in a flash note released to investors on May 07. William Blair seeing the stock struggling downgraded it from Outperform to Mkt Perform on April 05 .
The average rating for the DLTH equity is 3 and is currently gathering a bullish momentum. Of 4 analysts tracking Duluth Holdings Inc. polled by Reuters, 4 rated DLTH 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 DLTH stock price is 15.31X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Duluth Holdings Inc. (NASDAQ:DLTH) will decrease by about -99.89%, which will see them reach $118.55 million. The company’s full-year revenues are, however, expected to diminish by about -0.82%, down from $615.62 million to $610.57 million. DLTH’s expected adjusted earnings should drop almost -66.67% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -44.83% to record $0.32/share.