The stock of Genesis Healthcare, Inc. (NYSE:GEN) is now priced at $1.02 and the shares are 0.11 points up or 11.73% higher compared to its previous closing price of $0.91. The stock had 4.261 million contracts set over the past session. GEN shares’ daily volume is compared to its average trading volume at 1.334 million shares. However, it has a float of 62.98 million and although its performance was 16.21% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the GEN share price recently placing at $1 to $1.13. However, some brokerage firms have priced the stock below the average, including one that has called $1.2.
The shorts are running away from the Genesis Healthcare, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GEN shares have declined. Short interest in the stock represents just 3.55% of its float, but the volume has dropped by 0.
In the last trading session, Genesis Healthcare, Inc. (NYSE:GEN) raised by $0.1423 over the week and gained $0.3142 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.8595. The stock recorded its established 52-week high on 02/25/20.
Since 05/15/20, the stock has traded to a low of $0.58 at 75.86%, 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 1.41. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Genesis Healthcare, Inc.’s two-week RSI is 75.64. This suggests that the stock is oversold at the moment and that GEN shares’ price movement remains not stable. The stochastic readings are equally revealing at 81.92% meaning the GEN share price is currently in oversold territory.
The technical chart shows that the GEN stock will likely settle at between $1.1 and $1.18 per share. However, if the stock dips below $0.97, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.92.
Currently, the stock is trading in the green of MACD, with a reading of 0.0403. 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 Stifel raised their recommendation for GEN from Hold to Buy in November 29 review. RBC Capital Mkts analysts downgraded their recommendation of the stock from Outperform to Sector Perform while keeping its target price at $3 to $3.50 in a flash note released to investors on November 21. RBC Capital Mkts analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices down on May 16, placing it at $3 from $5.
The average rating for the GEN equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Genesis Healthcare, Inc. polled by Reuters, 2 rated GEN as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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.
The stocks P/S ratio currently stands at 2.1 below the group’s average of 31.4. Genesis Healthcare, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Genesis Healthcare, Inc. (NYSE:GEN) will increase by about 2.56%, which will see them reach $1120 million. The company’s full-year revenues are, however, expected to diminish by about -4.81%, down from $4570 million to $4350 million. GEN’s expected adjusted earnings should drop almost -40% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -220% to record -$0.12/share.