The stock of Reliant Bancorp, Inc. (NASDAQ:RBNC) is now priced at $15.65 and the shares are 0.46 points up or 3.03% higher compared to its previous closing price of $15.19. The stock had 42109 contracts set over the past session. RBNC shares’ daily volume is compared to its average trading volume at 0.066 million shares. However, it has a float of 15.08 million and although its performance was -0.89% over the week, it’s one to watch. Analysts have given the RBNC stock a yearly average price target of $17.67 per share. It means the stock’s upside potential is 12.91% with the RBNC share price recently placing at $15.33 to $15.91. However, some brokerage firms have priced the stock below the average, including one that has called $17.
The shorts are running away from the Reliant Bancorp, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the RBNC shares have declined. Short interest in the stock represents just 0.73% of its float, but the volume has dropped by -1327. The volume of shorted shares dropped to 110587 from 111914 shares over the last two weeks. The average intraday trading volume has been 48598 shares, which means that days to cover moved to roughly 2.275546.
In the last trading session, Reliant Bancorp, Inc. (NASDAQ:RBNC) dropped by -$0.14 over the week and lost -$0.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $25. The stock recorded its established 52-week high on 07/31/19.
Since 04/03/20, the stock has traded to a low of $9.45 at 65.61%, 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 1.16. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Reliant Bancorp, Inc.’s two-week RSI is 51.79. This suggests that the stock is neutral at the moment and that RBNC shares’ price movement remains stable. The stochastic readings are equally revealing at 33.83% meaning the RBNC share price is currently in neutral territory.
The technical chart shows that the RBNC stock will likely settle at between $15.93 and $16.21 per share. However, if the stock dips below $15.35, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.05.
Currently, the stock is trading in the red of MACD, with a reading of -0.53. 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 RBNC a rating of Mkt Perform in their intiating review released on June 09.
The average rating for the RBNC equity is 2 and is currently gathering a bullish momentum. Of 7 analysts tracking Reliant Bancorp, Inc. polled by Reuters, 2 rated RBNC as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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 RBNC stock price is 10.16X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 14.5 above the group’s average of 10.9. Reliant Bancorp, Inc. has its P/E ratio at 1.1, which means that the stock is currently trading at a premium relative to the 0.9 industry average.