The stock of UMH Properties, Inc. (NYSE:UMH) is now priced at $11.95 and the shares are -0.21 points down or -1.73% lower compared to its previous closing price of $12.16. The stock had 84607 contracts set over the past session. UMH shares’ daily volume is compared to its average trading volume at 176874 shares. However, it has a float of 38.02 million and although its performance was -1.06% over the week, it’s one to watch. Analysts have given the UMH stock a yearly average price target of $16 per share. It means the stock’s upside potential is 33.89% with the UMH share price recently placing at $12.15 to $12.64. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are running away from the UMH Properties, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the UMH shares have declined. Short interest in the stock represents just 1.39% 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, UMH Properties, Inc. (NYSE:UMH) raised by $0.07 over the week and lost -$0.56 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $16.64. The stock recorded its established 52-week high on 01/23/20.
Since 03/19/20, the stock has traded to a low of $8.63 at 38.47%, 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 1.03. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, UMH Properties, Inc.’s two-week RSI is 43.35. This suggests that the stock is neutral at the moment and that UMH shares’ price movement remains stable. The stochastic readings are equally revealing at 16.95% meaning the UMH share price is currently in overbought territory.
The technical chart shows that the UMH stock will likely settle at between $12.48 and $12.81 per share. However, if the stock dips below $11.99, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.83.
Currently, the stock is trading in the red of MACD, with a reading of -0.1. 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 DA Davidson cut their recommendation for UMH from Buy to Neutral in March 16 review while maintai their target price of $17 to $16. Compass Point analysts see the stock as a Buy with a target price of $19.5 in a flash note released to investors on July 22 initiating covering the stock. Maxim Group analysts see the stock as Buy when the analysts initiated the share price coverage on June 06, placing it at $17.
The average rating for the UMH equity is 1.8 and is currently gathering a bullish momentum. Of 5 analysts tracking UMH Properties, Inc. polled by Reuters, 1 rated UMH 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 UMH stocks P/S ratio currently stands at 0below the group’s average of 38.4. UMH Properties, Inc. has its P/E ratio at 5.5, which means that the stock is currently trading at a premium relative to the 2.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for UMH Properties, Inc. (NYSE:UMH) will decrease by about -99.91%, which will see them reach $35.38 million. The company’s full-year revenues are, however, expected to diminish by about -2.2%, down from $146.59 million to $143.36 million. UMH’s expected adjusted earnings should drop almost -80% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -2183.33% to record -$1.25/share.