The stock of Remark Holdings, Inc. (NASDAQ:MARK) is now priced at $1.39 and the shares are 0.02 points up or 1.46% higher compared to its previous closing price of $1.37. The stock had 3.198 million contracts set over the past session. MARK shares’ daily volume is compared to its average trading volume at 35 million shares. However, it has a float of 85.77 million and although its performance was -4.14% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the MARK share price recently placing at $1.34 to $1.46. However, some brokerage firms have priced the stock below the average, including one that has called $4.25.
The shorts are climbing into the Remark Holdings, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the MARK shares have risen. Short interest in the stock represents just 15.11% of its float, but the volume has raised by 1040909. The volume of shorted shares rised to 12.96 million from 11.919 million shares over the last two weeks. The average intraday trading volume has been 11.639 million shares, which means that days to cover moved to roughly 1.113464.
In the last trading session, Remark Holdings, Inc. (NASDAQ:MARK) dropped by -$0.06 over the week and lost -$0.92 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.56. The stock recorded its established 52-week high on 05/27/20.
Since 03/24/20, the stock has traded to a low of $0.25 at 456%, 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 3.14. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Remark Holdings, Inc.’s two-week RSI is 35.4. This suggests that the stock is neutral at the moment and that MARK shares’ price movement remains stable. The stochastic readings are equally revealing at 18.88% meaning the MARK share price is currently in overbought territory.
The technical chart shows that the MARK stock will likely settle at between $1.4533 and $1.5167 per share. However, if the stock dips below $1.3333, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.2767.
Currently, the stock is trading in the red of MACD, with a reading of -0.0378. 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 ROTH Capital though raised target price of MARK stock from $10.25 to $20.50 but maintained Buy recommendation in their January 31 review. ROTH Capital analysts see the stock as a Buy with a target price of $8.5 in a flash note released to investors on October 13 initiating covering the stock. Maxim Group analysts see the stock as Buy when the analysts initiated the share price coverage on July 01, placing it at $11.
The average rating for the MARK equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Remark Holdings, Inc. polled by Reuters, 0 rated MARK 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.
Elsewhere, the MARK stocks P/S ratio currently stands below the group’s average of 38.2. Remark Holdings, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 5.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Remark Holdings, Inc. (NASDAQ:MARK) will decrease by about -99.7%, which will see them reach $1.31 million. The company’s full-year revenues are, however, expected to increase by about 60.36%, up from $5.02 million to $8.05 million. MARK’s expected adjusted earnings should drop almost -16.67% to end up at -$0.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -67.24% to record -$0.19/share.