The stock of Nomad Foods Limited (NYSE:NOMD) is now priced at $21.2 and the shares are -0.1 points down or -0.47% lower compared to its previous closing price of $21.3. The stock had 783549 contracts set over the past session. NOMD shares’ daily volume is compared to its average trading volume at 1.312 million shares. However, it has a float of 171 million and although its performance was 0.62% over the week, it’s one to watch. Analysts have given the NOMD stock a yearly average price target of $23.49 per share. It means the stock’s upside potential is 10.8% with the NOMD share price recently placing at $21.07 to $21.435. However, some brokerage firms have priced the stock below the average, including one that has called $€20.26.
The shorts are running away from the Nomad Foods Limited stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the NOMD shares have declined. Short interest in the stock represents just 1.22% 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, Nomad Foods Limited (NYSE:NOMD) raised by $0.13 over the week and lost -$0.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.06. The stock recorded its established 52-week high on 07/25/19.
Since 03/19/20, the stock has traded to a low of $14.08 at 50.57%, 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 0.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Nomad Foods Limited’s two-week RSI is 49.16. This suggests that the stock is neutral at the moment and that NOMD shares’ price movement remains stable. The stochastic readings are equally revealing at 38.1% meaning the NOMD share price is currently in neutral territory.
The technical chart shows that the NOMD stock will likely settle at between $21.4 and $21.6 per share. However, if the stock dips below $21.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $20.87.
Analysts at Maxim Group assigned NOMD a rating of Buy in their intiating review released on June 19. Jefferies analysts see the stock as a Buy with a target price of $ in a flash note released to investors on January 23 initiating covering the stock. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on January 22.
The average rating for the NOMD equity is 1.92 and is currently gathering a bullish momentum. Of 13 analysts tracking Nomad Foods Limited polled by Reuters, 0 rated NOMD as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (13) 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 NOMD stock price is 14.15X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 21.4below the group’s average of 22.6. Nomad Foods Limited has its P/E ratio at 1.5, 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 Nomad Foods Limited (NYSE:NOMD) will decrease by about -99.92%, which will see them reach $587.14 million. The company’s full-year revenues are, however, expected to increase by about 6.47%, up from $2.32 billion to $2470 million. NOMD’s expected adjusted earnings should drop almost -3.33% to end up at $0.29 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -6.62% to record $1.27/share.