The stock of Cedar Realty Trust, Inc. (NYSE:CDR) is now priced at $0.88 and the shares are -0.07 points down or -7.01% lower compared to its previous closing price of $0.95. The stock had 4.112 million contracts set over the past session. CDR shares’ daily volume is compared to its average trading volume at 1.367 million shares. However, it has a float of 77.29 million and although its performance was 1.93% over the week, it’s one to watch. Analysts have given the CDR stock a yearly average price target of $1.5 per share. It means the stock’s upside potential is 70.45% with the CDR share price recently placing at $0.86 to $0.967. However, some brokerage firms have priced the stock below the average, including one that has called $0.5.
The shorts are running away from the Cedar Realty Trust, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the CDR shares have declined. Short interest in the stock represents just 2.01% of its float, but the volume has dropped by 0.
In the last trading session, Cedar Realty Trust, Inc. (NYSE:CDR) dropped by -$0.0392 over the week and lost -$0.1065 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.69. The stock recorded its established 52-week high on 10/23/19.
Since 04/03/20, the stock has traded to a low of $0.5251 at 68.25%, 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 1.46. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Cedar Realty Trust, Inc.’s two-week RSI is 46.69. This suggests that the stock is neutral at the moment and that CDR shares’ price movement remains stable. The stochastic readings are equally revealing at 41.09% meaning the CDR share price is currently in neutral territory.
The technical chart shows that the CDR stock will likely settle at between $0.9187 and $0.9538 per share. However, if the stock dips below $0.8242, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.7648.
Currently, the stock is trading in the red of MACD, with a reading of -0.0057. 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 CDR a rating of Sell in their intiating review released on August 15. B. Riley FBR, Inc. analysts see the stock as a Buy, but they also dropped the share’s target price from $6.50 to $5.50 in a flash note released to investors on February 12. FBR & Co. analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on August 08, placing it at $6.25 from $5.75.
The average rating for the CDR equity is 2.8 and is currently gathering a bullish momentum. Of 5 analysts tracking Cedar Realty Trust, Inc. polled by Reuters, 2 rated CDR as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CDR stocks P/S ratio currently stands below the group’s average of 18.5. Cedar Realty Trust, Inc. has its P/E ratio at 0.3, which means that the stock is currently trading at a discount relative to the 1.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Cedar Realty Trust, Inc. (NYSE:CDR) will decrease by about -99.92%, which will see them reach $32.26 million. The company’s full-year revenues are, however, expected to diminish by about -2.26%, down from $144.08 million to $140.82 million. CDR’s expected adjusted earnings should drop almost -300% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 83.33% to record -$0.22/share.