The stock of EQT Corporation (NYSE:EQT) is now priced at $17.16 and the shares are -0.01 points down or -0.06% lower compared to its previous closing price of $17.17. The stock had 6.981 million contracts set over the past session. EQT shares’ daily volume is compared to its average trading volume at 5.981 million shares. However, it has a float of 253 million and although its performance was 9.37% over the week, it’s one to watch. Analysts have given the EQT stock a yearly average price target of $16.61 per share. It means the stock’s downside potential is -3.21% with the EQT share price recently placing at $17.0301 to $17.965. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the EQT Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EQT shares have declined. Short interest in the stock represents just 6.5% of its float, but the volume has dropped by 0.
In the last trading session, EQT Corporation (NYSE:EQT) raised by $1.47 over the week and gained $4.67 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.97. The stock recorded its established 52-week high on 08/10/20.
Since 02/27/20, the stock has traded to a low of $4.21 at 307.6%, 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 1.49. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, EQT Corporation’s two-week RSI is 71.37. This suggests that the stock is oversold at the moment and that EQT shares’ price movement remains not stable. The stochastic readings are equally revealing at 89.1% meaning the EQT share price is currently in oversold territory.
The technical chart shows that the EQT stock will likely settle at between $17.74 and $18.32 per share. However, if the stock dips below $16.81, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $16.45.
Currently, the stock is trading in the green of MACD, with a reading of 1.12. 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 EQT a rating of Buy in their intiating review released on July 23. Evercore ISI analysts see the stock as a In-line in a flash note released to investors on July 14 resuming covering the stock. Piper Sandler analysts see the stock as Overweight when the analysts initiated the share price coverage on July 09, placing it at $16.
The average rating for the EQT equity is 2.5 and is currently gathering a bullish momentum. Of 18 analysts tracking EQT Corporation polled by Reuters, 5 rated EQT as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (13) 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 EQT stock price is 95.87X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for EQT Corporation (NYSE:EQT) will decrease by about -99.83%, which will see them reach $859.58 million. The company’s full-year revenues are, however, expected to diminish by about -12.56%, down from $4060 million to $3550 million. EQT’s expected adjusted earnings should surge almost 250% to end up at -$0.21 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -119.28% to record -$0.16/share.