The stock of The Pennant Group, Inc. (NASDAQ:PNTG) is now priced at $21.64 and the shares are -0.43 points down or -1.95% lower compared to its previous closing price of $22.07. The stock had 138826 contracts set over the past session. PNTG shares’ daily volume is compared to its average trading volume at 150771 shares. However, it has a float of 25.12 million and although its performance was -5.42% over the week, it’s one to watch. Analysts have given the PNTG stock a yearly average price target of $27 per share. It means the stock’s upside potential is 24.77% with the PNTG share price recently placing at $20.9301 to $22.55. However, some brokerage firms have priced the stock below the average, including one that has called $26.
The shorts are running away from the The Pennant Group, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the PNTG shares have declined. Short interest in the stock represents just 4.23% of its float, but the volume has dropped by -139363. The volume of shorted shares dropped to 922520 from 1.062 million shares over the last two weeks. The average intraday trading volume has been 206872 shares, which means that days to cover moved to roughly 4.459376.
Looking at current readings, The Pennant Group, Inc.’s two-week RSI is 47.74. This suggests that the stock is neutral at the moment and that PNTG shares’ price movement remains stable. The stochastic readings are equally revealing at 41.76% meaning the PNTG share price is currently in neutral territory.
The technical chart shows that the PNTG stock will likely settle at between $22.48 and $23.33 per share. However, if the stock dips below $20.86, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $20.09.
Currently, the stock is trading in the red of MACD, with a reading of -0.44. 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 PNTG a rating of Hold in their intiating review released on January 15. RBC Capital Mkts analysts see the stock as a Sector Perform with a target price of $20 in a flash note released to investors on October 22 initiating covering the stock.
The average rating for the PNTG equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking The Pennant Group, Inc. polled by Reuters, 2 rated PNTG 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 PNTG stock price is 29.64X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 144.1 above the group’s average of 26.1. The Pennant Group, Inc. has its P/E ratio at 7.9, which means that the stock is currently trading at a premium relative to the 4 industry average.