The stock of National CineMedia, Inc. (NASDAQ:NCMI) is now priced at $2.59 and the shares are -0.12 points down or -4.43% lower compared to its previous closing price of $2.71. The stock had 1.413 million contracts set over the past session. NCMI shares’ daily volume is compared to its average trading volume at 1.008 million shares. However, it has a float of 77 million and although its performance was -15.64% over the week, it’s one to watch. Analysts have given the NCMI stock a yearly average price target of $4.67 per share. It means the stock’s upside potential is 80.31% with the NCMI share price recently placing at $2.46 to $2.7. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the National CineMedia, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the NCMI shares have declined. Short interest in the stock represents just 8.04% of its float, but the volume has dropped by -4357. The volume of shorted shares dropped to 6.188 million from 6.192 million shares over the last two weeks. The average intraday trading volume has been 534338 shares, which means that days to cover moved to roughly 11.579764.
In the last trading session, National CineMedia, Inc. (NASDAQ:NCMI) dropped by -$0.48 over the week and lost -$0.46 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.85. The stock recorded its established 52-week high on 02/21/20.
Since 03/18/20, the stock has traded to a low of $1.62 at 59.88%, 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 1.07. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, National CineMedia, Inc.’s two-week RSI is 32.6. This suggests that the stock is neutral at the moment and that NCMI shares’ price movement remains stable. The stochastic readings are equally revealing at 17.09% meaning the NCMI share price is currently in overbought territory.
The technical chart shows that the NCMI stock will likely settle at between $2.71 and $2.82 per share. However, if the stock dips below $2.47, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.34.
Currently, the stock is trading in the red 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 Wedbush cut their recommendation for NCMI from Outperform to Neutral in July 29 review while maintai their target price of $4.50 to $3. The Benchmark Company analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on March 18. Barrington Research seeing the stock struggling downgraded it from Outperform to Mkt Perform on March 18.
The average rating for the NCMI equity is 2.67 and is currently gathering a bullish momentum. Of 6 analysts tracking National CineMedia, Inc. polled by Reuters, 4 rated NCMI as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 NCMI stock price is 18.24X ahead of its 12-month Consensus earnings per share estimates.