The stock of Arbor Realty Trust, Inc. (NYSE:ABR) is now priced at $10.72 and the shares are -0.03 points down or -0.28% lower compared to its previous closing price of $10.75. The stock had 2.088 million contracts set over the past session. ABR shares’ daily volume is compared to its average trading volume at 2.405 million shares. However, it has a float of 103 million and although its performance was 14.41% over the week, it’s one to watch. Analysts have given the ABR stock a yearly average price target of $9.7 per share. It means the stock’s downside potential is -9.51% with the ABR share price recently placing at $10.6787 to $10.91. However, some brokerage firms have priced the stock below the average, including one that has called $10.
The shorts are running away from the Arbor Realty Trust, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ABR shares have declined. Short interest in the stock represents just 5.68% of its float, but the volume has dropped by 0. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Arbor Realty Trust, Inc. (NYSE:ABR) raised by $1.35 over the week and gained $2.58 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $15.77. The stock recorded its established 52-week high on 11/08/19.
Since 03/18/20, the stock has traded to a low of $3.54 at 202.82%, 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 1.79. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Arbor Realty Trust, Inc.’s two-week RSI is 69.8. This suggests that the stock is neutral at the moment and that ABR shares’ price movement remains stable. The stochastic readings are equally revealing at 97.09% meaning the ABR share price is currently in oversold territory.
The technical chart shows that the ABR stock will likely settle at between $10.86 and $11 per share. However, if the stock dips below $10.63, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.54.
Currently, the stock is trading in the green of MACD, with a reading of 0.94. 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 JP Morgan raised their recommendation for ABR from Neutral to Overweight in July 28 review while maintain their target price of $9 to $9.50. JP Morgan analysts upgraded their recommendation of the stock from Underweight to Neutral while keeping its target price at $14.5 in a flash note released to investors on January 29. Raymond James seeing the improvements upgraded the stock from Mkt Perform to Outperform on August 21, placing it at $14.5.
The average rating for the ABR equity is 2.6 and is currently gathering a bullish momentum. Of 5 analysts tracking Arbor Realty Trust, Inc. polled by Reuters, 2 rated ABR as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ABR stock price is 11.26X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Arbor Realty Trust, Inc. (NYSE:ABR) will decrease by about -99.98%, which will see them reach $36.32 million. The company’s full-year revenues are, however, expected to increase by about 16.26%, up from $129.54 million to $150.6 million. ABR’s expected adjusted earnings should drop almost -11.43% to end up at $0.31 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -68.5% to record $0.4/share.