The stock of Civeo Corporation (NYSE:CVEO) is now priced at $0.94 and the shares are 0.17 points up or 22.08% higher compared to its previous closing price of $0.77. The stock had 2.47 million contracts set over the past session. CVEO shares’ daily volume is compared to its average trading volume at 0.782 million shares. However, it has a float of 135 million and although its performance was 75.67% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CVEO share price recently placing at $0.781 to $0.9899. However, some brokerage firms have priced the stock below the average, including one that has called $0.8.

The shorts are running away from the Civeo Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CVEO shares have declined. Short interest in the stock represents just 0.38% 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, Civeo Corporation (NYSE:CVEO) raised by $0.4049 over the week and gained $0.3792 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.59. The stock recorded its established 52-week high on 08/05/19.

Since 04/17/20, the stock has traded to a low of $0.3402 at 176.31%, 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 3.78. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Civeo Corporation’s two-week RSI is 76.26. This suggests that the stock is oversold at the moment and that CVEO shares’ price movement remains not stable. The stochastic readings are equally revealing at 63.62% meaning the CVEO share price is currently in neutral territory.

The technical chart shows that the CVEO stock will likely settle at between $1.0263 and $1.1125 per share. However, if the stock dips below $0.8174, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.6947.

Currently, the stock is trading in the green of MACD, with a reading of 0.1595. 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 Maxim Group assigned CVEO a rating of Sector Perform in their intiating review released on April 10. Scotia Howard Weil analysts downgraded their recommendation of the stock from Focus Stock to Sector Outperform while keeping its target price at $4 to $3 in a flash note released to investors on July 13. Scotia Howard Weil seeing the improvements upgraded the stock from Sector Outperform to Focus Stock on June 22, placing it at $4.

The average rating for the CVEO equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Civeo Corporation polled by Reuters, 1 rated CVEO as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 CVEO stocks P/S ratio currently stands at 0 below the group’s average of 73.4. Civeo Corporation has its P/E ratio at 0.6, which means that the stock is currently trading at a discount relative to the 4.4 industry average.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Civeo Corporation (NYSE:CVEO) will decrease by about -99.9%, which will see them reach $116 million. The company’s full-year revenues are, however, expected to diminish by about -8.29%, down from $528 million to $484 million. CVEO’s expected adjusted earnings should drop almost -350% to end up at -$0.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -33.33% to record -$0.24/share.

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