The stock of JAKKS Pacific, Inc. (NASDAQ:JAKK) is now priced at $6.66 and the shares are 0.34 points up or 5.38% higher compared to its previous closing price of $6.32. The stock had 1.219 million contracts set over the past session. JAKK shares’ daily volume is compared to its average trading volume at 0.39 million shares. However, it has a float of 2.14 million and although its performance was 7.77% over the week, it’s one to watch. Analysts have given the JAKK stock a yearly average price target of $7.67 per share. It means the stock’s upside potential is 15.17% with the JAKK share price recently placing at $6.1323 to $6.94. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the JAKKS Pacific, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the JAKK shares have declined. Short interest in the stock represents just 14.46% of its float, but the volume has dropped by -246713. The volume of shorted shares dropped to 309791 from 556504 shares over the last two weeks. The average intraday trading volume has been 688021 shares, which means that days to cover moved to roughly 1.
In the last trading session, JAKKS Pacific, Inc. (NASDAQ:JAKK) raised by $0.48 over the week and lost -$1.74 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.6. The stock recorded its established 52-week high on 10/17/19.
Since 03/30/20, the stock has traded to a low of $3 at 122%, 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 3.08. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, JAKKS Pacific, Inc.’s two-week RSI is 49.27. This suggests that the stock is neutral at the moment and that JAKK shares’ price movement remains stable. The stochastic readings are equally revealing at 29.46% meaning the JAKK share price is currently in overbought territory.
The technical chart shows that the JAKK stock will likely settle at between $7.02 and $7.39 per share. However, if the stock dips below $6.21, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.77.
Currently, the stock is trading in the green of MACD, with a reading of 0.19. 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 Stifel though dropped target price of JAKK stock from $4.50 to $3.30 but maintained Hold recommendation in their October 30 review. DA Davidson analysts downgraded their recommendation of the stock from Neutral to Underperform while keeping its target price at $2.25 in a flash note released to investors on September 21. DA Davidson analysts see the stock as Neutral. Nonetheless, the analysts revised the share prices down on July 26, placing it at $3.75 from $5.
The average rating for the JAKK equity is 2.67 and is currently gathering a bullish momentum. Of 3 analysts tracking JAKKS Pacific, Inc. polled by Reuters, 2 rated JAKK as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for JAKKS Pacific, Inc. (NASDAQ:JAKK) will decrease by about -99.88%, which will see them reach $79.5 million. The company’s full-year revenues are, however, expected to diminish by about -9.33%, down from $598.65 million to $542.77 million. JAKK’s expected adjusted earnings should drop almost -51.08% to end up at -$4.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -19.18% to record -$5.9/share.