With the current price of $1.7, the stock of On Deck Capital, Inc. (NYSE:ONDK) concluded the trading session seeing its price rise by 0.05 points or at a gain of 3.03% compared to its previous day’s closing price of $1.65. About 1.708 million shares of the stock changed hands on the day. The trading volume of ONDK’s shares during the past session compares with the stock’s average daily trading volume of 2.971 million shares. On the other hand, a float of 54.52 million shares and a weekly performance of 21.43% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $1.39 for ONDK’s share which suggests that the stock, price of which is currently buoying between $1.59 and $1.71, is prone to a loss of -18.24%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $1.25 to the stock.
The latest data released on July 31, 2020 shows that the short float in the On Deck Capital, Inc.’s stock is trending downward as short interest in ONDK shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the ONDK is currently comprised of 5.85% of the float. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to shares from the previous figure of shares. Stock’s average intraday volume is now standing at shares which indicate that the days to cover the shorts are nearly.
After concluding the day’s trading, price of On Deck Capital, Inc. (NYSE:ONDK) is up $0.3 over the week and it is $0.9569 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $4.71 that was attained on 10/30/19.
The stock has traded as low as $0.54 in past 52-week, and its current price is 214.81% above from that 52-week low price mark recorded on 03/18/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.71. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 80.86 as 14-days RSI of On Deck Capital, Inc. This means that the ONDK is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly, the stochastic oscillator is indicating a momentum of 95.28%, implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $1.7433 for the ONDK’s share while placing it at a 2nd resistance point of $1.7867 to be settled at. But if the stock takes a plunge lower than the 1st support price of $1.6233 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.5467.
MACD oscillator is showing a reading of 0.2617 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
BTIG Research lowered its recommendation for ONDK stock from Buy to Neutral in a review note dated May 01. The stock gets its recommendation downgraded from Buy to Neutral from the analysts at B. Riley FBR who assigned a target price of $6 to $3 in their April 15 note to investors.Morgan Stanleyanalysts upgraded their recommendation from Underweight to Equal-Weight on August 21, while assigning a price target of $4 to $3.50.
The average rating of 3 for ONDK is placing the stock in bullish category at the moment. In a poll by Reuters including 8 analysts in it who kept tracking the On Deck Capital, Inc., 8 rated the stock as hold. Others were in different opinions for the ONDK. Out of remaining 0 analysts, 0 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that ONDK stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 30.91. Stock’s current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 30.7. A comparison of On Deck Capital, Inc.’s trailing 12-months P/E ratio of 0.4 implies that it is trading above the industry’s average P/E ratio, which currently is 5.1.
Projection by Zacks Consensus Estimates suggests that On Deck Capital, Inc. (NYSE:ONDK) will see its current-quarter revenues drop by nearly -99.92% to be decreased to about $66.27 million. Full-year revenue of the company is however forecasted to be fell to nearly -27.74% to bring $321.21 million in revenues against last year revenue of $444.49 million. Earnings, after adjustments, are likely to fell by -70% to post an EPS of $0.03, while estimate for company’s full year earnings is -$1.15 per share with a growth rate of -438.24%.