The stock of Pennsylvania Real Estate Investment Trust (NYSE:PEI) is now priced at $1.08 and the shares are -0.1 points down or -8.47% lower compared to its previous closing price of $1.18. The stock had 1.193 million contracts set over the past session. PEI shares’ daily volume is compared to its average trading volume at 2.41 million shares. However, it has a float of 64.83 million and although its performance was -10% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the PEI share price recently placing at $1.06 to $1.16. However, some brokerage firms have priced the stock below the average, including one that has called $0.7.
The shorts are running away from the Pennsylvania Real Estate Investment Trust stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the PEI shares have declined. Short interest in the stock represents just 29.8% of its float, but the volume has dropped by 0.
In the last trading session, Pennsylvania Real Estate Investment Trust (NYSE:PEI) dropped by -$0.12 over the week and lost -$0.34 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.41. The stock recorded its established 52-week high on 10/29/19.
Since 03/18/20, the stock has traded to a low of $0.8026 at 34.56%, 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 2.05. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Pennsylvania Real Estate Investment Trust’s two-week RSI is 37.54. This suggests that the stock is neutral at the moment and that PEI shares’ price movement remains stable. The stochastic readings are equally revealing at 15.78% meaning the PEI share price is currently in overbought territory.
The technical chart shows that the PEI stock will likely settle at between $1.14 and $1.2 per share. However, if the stock dips below $1.04, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.
Currently, the stock is trading in the red of MACD, with a reading of -0.0322. 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 SunTrust cut their recommendation for PEI from Hold to Sell in January 16 review. Citigroup analysts downgraded their recommendation of the stock from Neutral to Sell while keeping its target price at $6 to $4.50 in a flash note released to investors on September 23. Boenning & Scattergood seeing the improvements upgraded the stock from Neutral to Outperform on May 06.
The average rating for the PEI equity is 4 and is currently gathering a bearish momentum. Of 4 analysts tracking Pennsylvania Real Estate Investment Trust polled by Reuters, 1 rated PEI as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PEI stocks P/S ratio currently stands below the group’s average of 18.1. Pennsylvania Real Estate Investment Trust has its P/E ratio at 0.2, 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 Pennsylvania Real Estate Investment Trust (NYSE:PEI) will decrease by about -99.9%, which will see them reach $75.45 million. The company’s full-year revenues are, however, expected to diminish by about -6.47%, down from $336.79 million to $315 million. PEI’s expected adjusted earnings should surge almost 82.35% to end up at -$0.31 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 109.62% to record -$1.09/share.