The stock of Vermilion Energy Inc. (NYSE:VET) is now priced at $4.1 and the shares are -0.08 points down or -1.91% lower compared to its previous closing price of $4.18. The stock had 1.28 million contracts set over the past session. VET shares’ daily volume is compared to its average trading volume at 1.645 million shares. However, it has a float of 153 million and although its performance was -13.14% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the VET share price recently placing at $4.02 to $4.205. However, some brokerage firms have priced the stock below the average, including one that has called $3.37.
The shorts are running away from the Vermilion Energy Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the VET shares have declined. Short interest in the stock represents just 3.4% of its float, but the volume has dropped by 0.
In the last trading session, Vermilion Energy Inc. (NYSE:VET) dropped by -$0.62 over the week and lost -$0.45 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.49. The stock recorded its established 52-week high on 09/16/19.
Since 03/18/20, the stock has traded to a low of $1.5 at 173.33%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Vermilion Energy Inc.’s two-week RSI is 40.28. This suggests that the stock is neutral at the moment and that VET shares’ price movement remains stable. The stochastic readings are equally revealing at 17.98% meaning the VET share price is currently in overbought territory.
The technical chart shows that the VET stock will likely settle at between $4.19 and $4.29 per share. However, if the stock dips below $4.01, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.93.
Currently, the stock is trading in the red of MACD, with a reading of -0.35. 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 National Bank Financial raised their recommendation for VET from Underperform to Sector Perform in April 23 review. BofA/Merrill analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on March 09. National Bank Financial seeing the stock struggling downgraded it from Sector Perform to Underperform on January 31.
The average rating for the VET equity is 3.33 and is currently gathering a bearish momentum. Of 3 analysts tracking Vermilion Energy Inc. polled by Reuters, 2 rated VET as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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 VET stock price is 6.72X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Vermilion Energy Inc. (NYSE:VET) will decrease by about -99.94%, which will see them reach $225.21 million. The company’s full-year revenues are, however, expected to increase by about 21.09%, up from $694.85 million to $841.39 million. VET’s expected adjusted earnings should drop almost -173.33% to end up at $0.11 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -136.29% to record $0.45/share.