The stock of Columbia Property Trust, Inc. (NYSE:CXP) is now priced at $11.96 and the shares are 0.42 points up or 3.64% higher compared to its previous closing price of $11.54. The stock had 1.198 million contracts set over the past session. CXP shares’ daily volume is compared to its average trading volume at 1.158 million shares. However, it has a float of 113 million and although its performance was -0.25% over the week, it’s one to watch. Analysts have given the CXP stock a yearly average price target of $16.5 per share. It means the stock’s upside potential is 37.96% with the CXP share price recently placing at $11.28 to $12.02. However, some brokerage firms have priced the stock below the average, including one that has called $13.5.
The shorts are running away from the Columbia Property Trust, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CXP shares have declined. Short interest in the stock represents just 3.1% 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, Columbia Property Trust, Inc. (NYSE:CXP) dropped by -$0.03 over the week and lost -$0.57 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $22.71. The stock recorded its established 52-week high on 02/18/20.
Since 03/23/20, the stock has traded to a low of $7.63 at 56.75%, 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 1.13. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Columbia Property Trust, Inc.’s two-week RSI is 42.61. This suggests that the stock is neutral at the moment and that CXP shares’ price movement remains stable. The stochastic readings are equally revealing at 44.09% meaning the CXP share price is currently in neutral territory.
The technical chart shows that the CXP stock will likely settle at between $12.23 and $12.49 per share. However, if the stock dips below $11.49, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.01.
Currently, the stock is trading in the red of MACD, with a reading of -0.03. 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 Goldman raised their recommendation for CXP from Neutral to Buy in April 02 review while maintain their target price of $24 to $16. SunTrust analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $23 in a flash note released to investors on January 16. Goldman analysts see the stock as Neutral when the analysts initiated the share price coverage on November 08, placing it at $22.
The average rating for the CXP equity is 2.4 and is currently gathering a bullish momentum. Of 5 analysts tracking Columbia Property Trust, Inc. polled by Reuters, 2 rated CXP 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 CXP stock price is 74.75X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 0 below the group’s average of 27.8. Columbia Property Trust, Inc. has its P/E ratio at 0.5, 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 Columbia Property Trust, Inc. (NYSE:CXP) will decrease by about -99.9%, which will see them reach $73.76 million. The company’s full-year revenues are, however, expected to diminish by about -0.49%, down from $289 million to $287 million. CXP’s expected adjusted earnings should drop almost -117.65% to end up at $0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -37.5% to record $0.05/share.