The stock of Qurate Retail, Inc. (NASDAQ:QRTEA) is now priced at $11.03 and the shares are -0.11 points down or -0.99% lower compared to its previous closing price of $11.14. The stock had 2.358 million contracts set over the past session. QRTEA shares’ daily volume is compared to its average trading volume at 2.847 million shares. However, it has a float of 379 million and although its performance was 14.9% over the week, it’s one to watch. Analysts have given the QRTEA stock a yearly average price target of $11.83 per share. It means the stock’s upside potential is 7.25% with the QRTEA share price recently placing at $10.77 to $11.41.
The shorts are running away from the Qurate Retail, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the QRTEA shares have declined. Short interest in the stock represents just 4.16% of its float, but the volume has dropped by -456034. The volume of shorted shares dropped to 15.775 million from 16.231 million shares over the last two weeks. The average intraday trading volume has been 1.801 million shares, which means that days to cover moved to roughly 8.758801.
In the last trading session, Qurate Retail, Inc. (NASDAQ:QRTEA) raised by $1.43 over the week and gained $1.35 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.63. The stock recorded its established 52-week high on 07/31/19.
Since 03/16/20, the stock has traded to a low of $3.01 at 266.45%, 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 1.33. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Qurate Retail, Inc.’s two-week RSI is 71.04. This suggests that the stock is oversold at the moment and that QRTEA shares’ price movement remains not stable. The stochastic readings are equally revealing at 84.1% meaning the QRTEA share price is currently in oversold territory.
The technical chart shows that the QRTEA stock will likely settle at between $11.37 and $11.71 per share. However, if the stock dips below $10.73, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.43.
Currently, the stock is trading in the green of MACD, with a reading of 0.82. 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 UBS cut their recommendation for QRTEA from Buy to Neutral in April 21 review while maintai their target price of $10 to $9. Evercore ISI analysts see the stock as a In-line with a target price of $20 in a flash note released to investors on March 20 initiating covering the stock. Citigroup seeing the improvements upgraded the stock from Sell to Buy on March 08, placing it at $19 to $21.
The average rating for the QRTEA equity is 2.5 and is currently gathering a bullish momentum. Of 7 analysts tracking Qurate Retail, Inc. polled by Reuters, 3 rated QRTEA as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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 QRTEA stock price is 5.16X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 77.8. Qurate Retail, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 14.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Qurate Retail, Inc. (NASDAQ:QRTEA) will increase by about 9.93%, which will see them reach $3210 million. The company’s full-year revenues are, however, expected to diminish by about -0.59%, down from $13460 million to $13380 million. QRTEA’s expected adjusted earnings should surge almost 2.08% to end up at $0.49 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -9.33% to record $1.75/share.