The stock of Just Energy Group Inc. (NYSE:JE) is now priced at $0.39 and the shares are -0.02 points down or -4.78% lower compared to its previous closing price of $0.41. The stock had 4.875 million contracts set over the past session. JE shares’ daily volume is compared to its average trading volume at 3.955 million shares. However, it has a float of 108 million and although its performance was -26.89% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the JE share price recently placing at $0.405 to $0.43. However, some brokerage firms have priced the stock below the average, including one that has called $0.22.
The shorts are running away from the Just Energy Group Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the JE shares have declined. Short interest in the stock represents just 2.91% of its float, but the volume has dropped by 0.
In the last trading session, Just Energy Group Inc. (NYSE:JE) dropped by -$0.1452 over the week and lost -$0.1202 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.64. The stock recorded its established 52-week high on 07/29/19.
Since 07/14/20, the stock has traded to a low of $0.3429 at 15.14%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Just Energy Group Inc.’s two-week RSI is 44.99. This suggests that the stock is neutral at the moment and that JE shares’ price movement remains stable. The stochastic readings are equally revealing at 15.18% meaning the JE share price is currently in overbought territory.
The technical chart shows that the JE stock will likely settle at between $0.4145 and $0.4341 per share. However, if the stock dips below $0.3826, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.3703.
Currently, the stock is trading in the red of MACD, with a reading of -0.0028. 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 Canaccord Genuity cut their recommendation for JE from Buy to Hold in October 08 review. CIBC analysts upgraded their recommendation of the stock from Sector Underperform to Neutral in a flash note released to investors on August 22. CIBC seeing the stock struggling downgraded it from Neutral to Sector Underperform on August 16.
Elsewhere, the JE stock price is 0.76X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 21.6. Just Energy Group Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Just Energy Group Inc. (NYSE:JE) will increase by about 29.26%, which will see them reach $873.77 million. The company’s full-year revenues are, however, expected to diminish by about -1.01%, down from $2960 million to $2930 million. JE’s expected adjusted earnings should drop almost -162.5% to end up at $0.15 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -41.05% to record $1.12/share.