The stock of Global Net Lease, Inc. (NYSE:GNL) is now priced at $16.46 and the shares are -0.37 points down or -2.2% lower compared to its previous closing price of $16.83. The stock had 395113 contracts set over the past session. GNL shares’ daily volume is compared to its average trading volume at 734662 shares. However, it has a float of 89.29 million and although its performance was 0.6% over the week, it’s one to watch. Analysts have given the GNL stock a yearly average price target of $19.5 per share. It means the stock’s upside potential is 18.47% with the GNL share price recently placing at $16.42 to $16.83. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are running away from the Global Net Lease, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the GNL shares have declined. Short interest in the stock represents just 1.11% 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, Global Net Lease, Inc. (NYSE:GNL) dropped by -$0.35 over the week and gained $0.41 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.71. The stock recorded its established 52-week high on 02/21/20.
Since 03/19/20, the stock has traded to a low of $8.77 at 87.68%, 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 0.97. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Global Net Lease, Inc.’s two-week RSI is 53.81. This suggests that the stock is neutral at the moment and that GNL shares’ price movement remains stable. The stochastic readings are equally revealing at 67.32% meaning the GNL share price is currently in neutral territory.
The technical chart shows that the GNL stock will likely settle at between $16.97 and $17.1 per share. However, if the stock dips below $16.56, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $16.28.
Currently, the stock is trading in the green of MACD, with a reading of 0.03. 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 GNL a rating of Buy in their intiating review released on June 30. JMP Securities analysts see the stock as a Mkt Perform with a target price of $ in a flash note released to investors on June 08 resuming covering the stock. BTIG Research analysts see the stock as Buy when the analysts initiated the share price coverage on February 10, placing it at $23.
The average rating for the GNL equity is 2.2 and is currently gathering a bullish momentum. Of 7 analysts tracking Global Net Lease, Inc. polled by Reuters, 3 rated GNL as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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 GNL stock price is 136.83X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 45.5 above the group’s average of 17.8. Global Net Lease, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 1.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Global Net Lease, Inc. (NYSE:GNL) will decrease by about -99.9%, which will see them reach $80.02 million. The company’s full-year revenues are, however, expected to increase by about 5.7%, up from $306.21 million to $323.67 million. GNL’s expected adjusted earnings should drop almost -86.67% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -66.67% to record $0.13/share.