The stock of Gannett Co., Inc. (NYSE:GCI) is now priced at $1.58 and the shares are 0.14 points up or 9.72% higher compared to its previous closing price of $1.44. The stock had 8.257 million contracts set over the past session. GCI shares’ daily volume is compared to its average trading volume at 4.975 million shares. However, it has a float of 124 million and although its performance was 18.8% over the week, it’s one to watch. The stock’s downside potential is -100% with the GCI share price recently placing at $1.49 to $1.79. However, some brokerage firms have priced the stock below the average, including one that has called $0.5.
The shorts are running away from the Gannett Co., Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the GCI shares have declined. Short interest in the stock represents just 16.84% of its float, but the volume has dropped by 0.
In the last trading session, Gannett Co., Inc. (NYSE:GCI) raised by $0.25 over the week and gained $0.05 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11.35. The stock recorded its established 52-week high on 07/31/19.
Since 04/07/20, the stock has traded to a low of $0.63 at 150.79%, 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 1.49. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Gannett Co., Inc.’s two-week RSI is 57.48. This suggests that the stock is neutral at the moment and that GCI shares’ price movement remains stable. The stochastic readings are equally revealing at 73.47% meaning the GCI share price is currently in oversold territory.
The technical chart shows that the GCI stock will likely settle at between $1.75 and $1.92 per share. However, if the stock dips below $1.45, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.32.
Currently, the stock is trading in the green of MACD, with a reading of 0.0989. 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 Citigroup cut their recommendation for GCI from Buy to Sell in April 06 review. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight in a flash note released to investors on July 06. Argus seeing the stock struggling downgraded it from Buy to Hold on February 13.
The average rating for the GCI equity is 4 and is currently gathering a bearish momentum. Of 4 analysts tracking Gannett Co., Inc. polled by Reuters, 1 rated GCI as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Gannett Co., Inc. (NYSE:GCI) will decrease by about -99.92%, which will see them reach $768.1 million. The company’s full-year revenues are, however, expected to increase by about 83.96%, up from $1870 million to $3440 million. GCI’s expected adjusted earnings should drop almost -1133.33% to end up at -$0.62 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -925% to record -$1.98/share.