The stock of Loma Negra Compania Industrial Argentina Sociedad Anonima (NYSE:LOMA) is now priced at $5.51 and the shares are 0.43 points up or 8.46% higher compared to its previous closing price of $5.08. The stock had 1.045 million contracts set over the past session. LOMA shares’ daily volume is compared to its average trading volume at 412426 shares. However, it has a float of 58.36 million and although its performance was -1.78% over the week, it’s one to watch. Analysts have given the LOMA stock a yearly average price target of $6.59 per share. It means the stock’s upside potential is 19.6% with the LOMA share price recently placing at $4.85 to $5.78. However, some brokerage firms have priced the stock below the average, including one that has called $4.6.
The shorts are running away from the Loma Negra Compania Industrial Argentina Sociedad Anonima stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the LOMA shares have declined. Short interest in the stock represents just 0.3% of its float, but the volume has dropped by 0.
In the last trading session, Loma Negra Compania Industrial Argentina Sociedad Anonima (NYSE:LOMA) dropped by -$0.1 over the week and gained $0.84 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.9. The stock recorded its established 52-week high on 08/09/19.
Since 03/19/20, the stock has traded to a low of $3.01 at 83.06%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Loma Negra Compania Industrial Argentina Sociedad Anonima’s two-week RSI is 60. This suggests that the stock is neutral at the moment and that LOMA shares’ price movement remains stable. The stochastic readings are equally revealing at 64.02% meaning the LOMA share price is currently in neutral territory.
The technical chart shows that the LOMA stock will likely settle at between $5.91 and $6.31 per share. However, if the stock dips below $4.98, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.45.
Currently, the stock is trading in the red of MACD, with a reading of -0.12. 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 BofA/Merrill raised their recommendation for LOMA from Underperform to Neutral in May 12 review. Morgan Stanley analysts downgraded their recommendation of the stock from Equal-Weight to Underweight in a flash note released to investors on November 27. BofA/Merrill seeing the stock struggling downgraded it from Buy to Neutral on August 14.
The average rating for the LOMA equity is 2.43 and is currently gathering a bullish momentum. Of 7 analysts tracking Loma Negra Compania Industrial Argentina Sociedad Anonima polled by Reuters, 2 rated LOMA as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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 LOMA stock price is 13.12X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 14.9 below the group’s average of 26. Loma Negra Compania Industrial Argentina Sociedad Anonima has its P/E ratio at 1.6, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Loma Negra Compania Industrial Argentina Sociedad Anonima (NYSE:LOMA) will decrease by about -98.38%, which will see them reach $126 million. The company’s full-year revenues are, however, expected to increase by about 43.62%, up from $376.61 million to $540.89 million. LOMA’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 40% to record $0.49/share.