The stock of Vodafone Group Plc (NASDAQ:VOD) is now priced at $15.5 and the shares are 0.09 points up or 0.58% higher compared to its previous closing price of $15.41. The stock had 5.67 million contracts set over the past session. VOD shares’ daily volume is compared to its average trading volume at 3.553 million shares. However, it has a float of 2650 million and although its performance was 1.11% over the week, it’s one to watch. Analysts have given the VOD stock a yearly average price target of $22.07 per share. It means the stock’s upside potential is 42.39% with the VOD share price recently placing at $15.28 to $15.55. However, some brokerage firms have priced the stock below the average, including one that has called $15.35.
The shorts are running away from the Vodafone Group Plc stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the VOD shares have declined. Short interest in the stock represents just 0.15% of its float, but the volume has dropped by -1554550. The volume of shorted shares dropped to 4.046 million from 5.6 million shares over the last two weeks. The average intraday trading volume has been 1.879 million shares, which means that days to cover moved to roughly 2.153149.
In the last trading session, Vodafone Group Plc (NASDAQ:VOD) raised by $0.17 over the week and gained $0.04 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.72. The stock recorded its established 52-week high on 11/12/19.
Since 03/16/20, the stock has traded to a low of $11.46 at 35.25%, 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 0.85. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Vodafone Group Plc’s two-week RSI is 46.22. This suggests that the stock is neutral at the moment and that VOD shares’ price movement remains stable. The stochastic readings are equally revealing at 21.77% meaning the VOD share price is currently in overbought territory.
The technical chart shows that the VOD stock will likely settle at between $15.61 and $15.71 per share. However, if the stock dips below $15.34, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.17.
Currently, the stock is trading in the red of MACD, with a reading of -0.06. 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 Standpoint Research raised their recommendation for VOD from Reduce to Buy in May 18 review. Goldman analysts see the stock as a Buy in a flash note released to investors on January 16 resuming covering the stock. Exane BNP Paribas seeing the improvements upgraded the stock from Neutral to Outperform on September 12.
The average rating for the VOD equity is 1.33 and is currently gathering a bullish momentum. Of 3 analysts tracking Vodafone Group Plc polled by Reuters, 0 rated VOD 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 VOD stock price is 29.75X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 22.8. Vodafone Group Plc has its P/E ratio at 0.6, which means that the stock is currently trading at a discount relative to the 1.6 industry average.