The stock of Ardagh Group S.A. (NYSE:ARD) is now priced at $13.4 and the shares are 0.14 points up or 1.06% higher compared to its previous closing price of $13.26. The stock had 105171 contracts set over the past session. ARD shares’ daily volume is compared to its average trading volume at 115838 shares. However, it has a float of 18.47 million and although its performance was 3.47% over the week, it’s one to watch. Analysts have given the ARD stock a yearly average price target of $15.67 per share. It means the stock’s upside potential is 16.94% with the ARD share price recently placing at $13.1 to $13.78. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the Ardagh Group S.A. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the ARD shares have declined. Short interest in the stock represents just 1.02% 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, Ardagh Group S.A. (NYSE:ARD) raised by $0.45 over the week and gained $0.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.54. The stock recorded its established 52-week high on 02/18/20.
Since 03/19/20, the stock has traded to a low of $9.2 at 45.65%, 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 1.29. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Ardagh Group S.A.’s two-week RSI is 57.89. This suggests that the stock is neutral at the moment and that ARD shares’ price movement remains stable. The stochastic readings are equally revealing at 65.27% meaning the ARD share price is currently in neutral territory.
The technical chart shows that the ARD stock will likely settle at between $13.75 and $14.11 per share. However, if the stock dips below $13.07, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.75.
Currently, the stock is trading in the green of MACD, with a reading of 0.06. 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 Wells Fargo cut their recommendation for ARD from Equal Weight to Underweight in April 17 review while maintai their target price of $21 to $13. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight while keeping its target price at $15 to $17 in a flash note released to investors on July 17. Credit Suisse seeing the stock struggling downgraded it from Outperform to Neutral on November 12.
The average rating for the ARD equity is 2.86 and is currently gathering a bullish momentum. Of 8 analysts tracking Ardagh Group S.A. polled by Reuters, 2 rated ARD as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ARD stock price is 8.8X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 18.4. Ardagh Group S.A. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 3.1 industry average.