The stock of JBG SMITH Properties (NYSE:JBGS) is now priced at $29.16 and the shares are 0.73 points up or 2.57% higher compared to its previous closing price of $28.43. The stock had 506866 contracts set over the past session. JBGS shares’ daily volume is compared to its average trading volume at 631361 shares. However, it has a float of 129 million and although its performance was -2.11% over the week, it’s one to watch. Analysts have given the JBGS stock a yearly average price target of $34.33 per share. It means the stock’s upside potential is 17.73% with the JBGS share price recently placing at $28.41 to $29.16. However, some brokerage firms have priced the stock below the average, including one that has called $32.
The shorts are running away from the JBG SMITH Properties stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the JBGS shares have declined. Short interest in the stock represents just 1.23% 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, JBG SMITH Properties (NYSE:JBGS) dropped by -$0.63 over the week and lost -$0.47 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $42.36. The stock recorded its established 52-week high on 02/18/20.
Since 03/23/20, the stock has traded to a low of $21.88 at 33.27%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, JBG SMITH Properties’s two-week RSI is 44.59. This suggests that the stock is neutral at the moment and that JBGS shares’ price movement remains stable. The stochastic readings are equally revealing at 26.4% meaning the JBGS share price is currently in overbought territory.
The technical chart shows that the JBGS stock will likely settle at between $29.41 and $29.66 per share. However, if the stock dips below $28.66, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $28.16.
Currently, the stock is trading in the red of MACD, with a reading of -0.63. 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 JBGS a rating of In-line in their intiating review released on December 17. BofA/Merrill analysts see the stock as a Neutral with a target price of $ in a flash note released to investors on August 15 initiating covering the stock. Stifel analysts see the stock as Sell when the analysts initiated the share price coverage on June 21, placing it at $34.
The average rating for the JBGS equity is 3 and is currently gathering a bullish momentum. Of 3 analysts tracking JBG SMITH Properties polled by Reuters, 3 rated JBGS 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 JBGS stocks P/S ratio currently stands at 48.6 above the group’s average of 17.8. JBG SMITH Properties has its P/E ratio at 1.1, which means that the stock is currently trading at a discount relative to the 1.7 industry average.