The stock of Casper Sleep Inc. (NYSE:CSPR) is now priced at $8.63 and the shares are 0.61 points up or 7.61% higher compared to its previous closing price of $8.02. CSPR shares have a float of 26.71 million and although its performance was 12.81% over the week, it’s one to watch. Analysts have given the CSPR stock a yearly average price target of $8.61 per share. It means the stock’s downside potential is -0.23% with the CSPR share price recently placing at $8.03 to $9.08. However, some brokerage firms have priced the stock below the average, including one that has called $6.

The shorts are running away from the Casper Sleep Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the CSPR shares have declined. Short interest in the stock represents just 6.72% of its float, but the volume has dropped by 0.

Looking at current readings, Casper Sleep Inc.’s two-week RSI is 58.14. This suggests that the stock is neutral at the moment and that CSPR shares’ price movement remains stable. The stochastic readings are equally revealing at 41.97% meaning the CSPR share price is currently in neutral territory.

The technical chart shows that the CSPR stock will likely settle at between $9.13 and $9.63 per share. However, if the stock dips below $8.08, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.53.

Currently, the stock is trading in the green of MACD, with a reading of 0.18. 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 Maxim Group assigned CSPR a rating of Neutral in their intiating review released on March 02. Piper Sandler analysts see the stock as a Overweight with a target price of $15 in a flash note released to investors on March 02 initiating covering the stock. Morgan Stanley analysts see the stock as Equal-Weight when the analysts initiated the share price coverage on March 02, placing it at $12.

The average rating for the CSPR equity is 2.11 and is currently gathering a bullish momentum. Of 9 analysts tracking Casper Sleep Inc. polled by Reuters, 4 rated CSPR as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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 CSPR stocks P/S ratio currently stands below the group’s average of 16.2. Casper Sleep Inc. has its P/E ratio at 4.6, which means that the stock is currently trading at a premium relative to the 2.4 industry average.


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