The stock of Oil States International, Inc. (NYSE:OIS) is now priced at $5.35 and the shares are 0.1 points up or 1.9% higher compared to its previous closing price of $5.25. The stock had 1.098 million contracts set over the past session. OIS shares’ daily volume is compared to its average trading volume at 1.946 million shares. However, it has a float of 59.53 million and although its performance was 18.63% over the week, it’s one to watch. Analysts have given the OIS stock a yearly average price target of $3.79 per share. It means the stock’s downside potential is -29.16% with the OIS share price recently placing at $5.01 to $5.44. However, some brokerage firms have priced the stock below the average, including one that has called $2.
The shorts are running away from the Oil States International, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the OIS shares have declined. Short interest in the stock represents just 5.65% of its float, but the volume has dropped by 0.
In the last trading session, Oil States International, Inc. (NYSE:OIS) raised by $0.84 over the week and gained $0.76 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.81. The stock recorded its established 52-week high on 12/12/19.
Since 03/18/20, the stock has traded to a low of $1.52 at 251.97%, 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 3.48. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Oil States International, Inc.’s two-week RSI is 60.11. This suggests that the stock is neutral at the moment and that OIS shares’ price movement remains stable. The stochastic readings are equally revealing at 87.26% meaning the OIS share price is currently in oversold territory.
The technical chart shows that the OIS stock will likely settle at between $5.47 and $5.59 per share. However, if the stock dips below $5.18, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.
Currently, the stock is trading in the green of MACD, with a reading of 0.33. 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 Gabelli & Co cut their recommendation for OIS from Buy to Hold in May 06 review. Raymond James analysts downgraded their recommendation of the stock from Strong Buy to Mkt Perform in a flash note released to investors on March 10. JP Morgan seeing the improvements upgraded the stock from Underweight to Neutral on February 21, placing it at $11.
The average rating for the OIS equity is 2.87 and is currently gathering a bullish momentum. Of 15 analysts tracking Oil States International, Inc. polled by Reuters, 11 rated OIS as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 2 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 Oil States International, Inc. (NYSE:OIS) will decrease by about -99.93%, which will see them reach $154.42 million. The company’s full-year revenues are, however, expected to diminish by about -35.38%, down from $1020 million to $659.12 million. OIS’s expected adjusted earnings should surge almost 235.71% to end up at -$0.47 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 125.81% to record -$1.4/share.