The stock of WillScot Corporation (NASDAQ:WSC) is now priced at $17.42 and the shares are 1.37 points up or 8.54% higher compared to its previous closing price of $16.05. The stock had 3.985 million contracts set over the past session. WSC shares’ daily volume is compared to its average trading volume at 2.022 million shares. However, it has a float of 110 million and although its performance was 14.83% over the week, it’s one to watch. Analysts have given the WSC stock a yearly average price target of $18.25 per share. It means the stock’s upside potential is 4.76% with the WSC share price recently placing at $16.71 to $17.75.
The shorts are running away from the WillScot Corporation stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the WSC shares have declined. Short interest in the stock represents just 7.56% of its float, but the volume has dropped by -4144569. The volume of shorted shares dropped to 8.322 million from 12.467 million shares over the last two weeks. The average intraday trading volume has been 2.956 million shares, which means that days to cover moved to roughly 2.815099.
In the last trading session, WillScot Corporation (NASDAQ:WSC) raised by $2.25 over the week and gained $5.49 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.79. The stock recorded its established 52-week high on 02/14/20.
Since 03/19/20, the stock has traded to a low of $7.45 at 133.83%, 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 1.69. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, WillScot Corporation’s two-week RSI is 77.29. This suggests that the stock is oversold at the moment and that WSC shares’ price movement remains not stable. The stochastic readings are equally revealing at 92.64% meaning the WSC share price is currently in oversold territory.
The technical chart shows that the WSC stock will likely settle at between $17.88 and $18.33 per share. However, if the stock dips below $16.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $16.25.
Currently, the stock is trading in the green of MACD, with a reading of 0.79. 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 WSC a rating of Overweight in their resuming review released on July 21. Deutsche Bank analysts see the stock as a Buy with a target price of $16 in a flash note released to investors on July 02 resuming covering the stock. Stifel analysts see the stock as Buy when the analysts initiated the share price coverage on July 01, placing it at $19.
The average rating for the WSC equity is 1.4 and is currently gathering a bullish momentum. Of 8 analysts tracking WillScot Corporation polled by Reuters, 0 rated WSC as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) 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 WSC stock price is 24.43X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 23.5. WillScot Corporation has its P/E ratio at 6.4, which means that the stock is currently trading at a premium relative to the 1.7 industry average.