The stock of Wynn Resorts, Limited (NASDAQ:WYNN) is now priced at $72.75 and the shares are -0.3 points down or -0.41% lower compared to its previous closing price of $73.05. The stock had 3.956 million contracts set over the past session. WYNN shares’ daily volume is compared to its average trading volume at 5.708 million shares. However, it has a float of 97.53 million and although its performance was -0.85% over the week, it’s one to watch. Analysts have given the WYNN stock a yearly average price target of $97.75 per share. It means the stock’s upside potential is 34.36% with the WYNN share price recently placing at $71.82 to $74.37.
The shorts are climbing into the Wynn Resorts, Limited stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the WYNN shares have risen. Short interest in the stock represents just 10.37% of its float, but the volume has raised by 405726. The volume of shorted shares rised to 10.113 million from 9.707 million shares over the last two weeks. The average intraday trading volume has been 5.901 million shares, which means that days to cover moved to roughly 1.713685.
In the last trading session, Wynn Resorts, Limited (NASDAQ:WYNN) dropped by -$0.62 over the week and lost -$0.62 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $153.41. The stock recorded its established 52-week high on 01/17/20.
Since 03/18/20, the stock has traded to a low of $35.84 at 102.99%, 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 2.46. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Wynn Resorts, Limited’s two-week RSI is 40.39. This suggests that the stock is neutral at the moment and that WYNN shares’ price movement remains stable. The stochastic readings are equally revealing at 16.37% meaning the WYNN share price is currently in overbought territory.
The technical chart shows that the WYNN stock will likely settle at between $74.14 and $75.53 per share. However, if the stock dips below $71.59, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $70.43.
Currently, the stock is trading in the red of MACD, with a reading of -0.74. 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 WYNN a rating of Neutral in their resuming review released on May 21. Citigroup analysts upgraded their recommendation of the stock from Neutral to Buy in a flash note released to investors on April 13. Standpoint Research seeing the improvements upgraded the stock from Hold to Buy on February 27.
The average rating for the WYNN equity is 2 and is currently gathering a bullish momentum. Of 17 analysts tracking Wynn Resorts, Limited polled by Reuters, 5 rated WYNN as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (12) 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 WYNN stock price is 265.51X 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 81.9. Wynn Resorts, Limited has its P/E ratio at 6.3, which means that the stock is currently trading at a premium relative to the 3.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Wynn Resorts, Limited (NASDAQ:WYNN) will decrease by about -13.03%, which will see them reach $829.74 million. The company’s full-year revenues are, however, expected to diminish by about -50.53%, down from $6610 million to $3270 million. WYNN’s expected adjusted earnings should drop almost -1547.06% to end up at -$2.46 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -372.54% to record -$11.61/share.