The shorts are climbing into the PriceSmart, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the PSMT shares have risen. Short interest in the stock represents just 3.14% of its float, but the volume has raised by 236342. The volume of shorted shares rised to 769736 from 533394 shares over the last two weeks. The average intraday trading volume has been 118922 shares, which means that days to cover moved to roughly 6.472612.
In the last trading session, PriceSmart, Inc. (NASDAQ:PSMT) raised by $1.83 over the week and gained $7.42 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $79.9. The stock recorded its established 52-week high on 10/30/19.
Since 03/16/20, the stock has traded to a low of $41.15 at 56.62%, 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 1.01. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, PriceSmart, Inc.’s two-week RSI is 69.13. This suggests that the stock is neutral at the moment and that PSMT shares’ price movement remains stable. The stochastic readings are equally revealing at 77.7% meaning the PSMT share price is currently in oversold territory.
The technical chart shows that the PSMT stock will likely settle at between $64.9 and $65.34 per share. However, if the stock dips below $64.11, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $63.76.
Currently, the stock is trading in the green of MACD, with a reading of 1.6. 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 Scotiabank cut their recommendation for PSMT from Sector Outperform to Sector Perform in May 08 review while maintai their target price of $65. Scotia Howard Weil analysts downgraded their recommendation of the stock from Sector Outperform to Sector Perform in a flash note released to investors on January 05. ROTH Capital analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on January 11, placing it at $85 from $100.
The average rating for the PSMT equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking PriceSmart, Inc. polled by Reuters, 2 rated PSMT 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 PSMT stock price is 24.14X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 25.1below the group’s average of 26.5. PriceSmart, Inc. has its P/E ratio at 2.4, which means that the stock is currently trading at a discount relative to the 5.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for PriceSmart, Inc. (NASDAQ:PSMT) will decrease by about -99.9%, which will see them reach $802.5 million. The company’s full-year revenues are, however, expected to increase by about 3.11%, up from $3220 million to $3320 million. PSMT’s expected adjusted earnings should drop almost -10.45% to end up at $0.6 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 4.17% to record $2.5/share.