The stock of Destination XL Group, Inc. (NASDAQ:DXLG) is now priced at $0.34 and the shares are 0.02 points up or 5.18% higher compared to its previous closing price of $0.32. The stock had 4.711 million contracts set over the past session. DXLG shares’ daily volume is compared to its average trading volume at 2.863 million shares. However, it has a float of 42.13 million and although its performance was -7.75% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the DXLG share price recently placing at $0.313 to $0.332. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Destination XL Group, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DXLG shares have declined. Short interest in the stock represents just 3.98% of its float, but the volume has dropped by -71536. The volume of shorted shares dropped to 1.606 million from 1.678 million shares over the last two weeks. The average intraday trading volume has been 1.272 million shares, which means that days to cover moved to roughly 1.262738.
In the last trading session, Destination XL Group, Inc. (NASDAQ:DXLG) raised by $0.0119 over the week and lost -$0.1032 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.9. The stock recorded its established 52-week high on 08/29/19.
Since 03/18/20, the stock has traded to a low of $0.2201 at 53.02%, 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 1.71. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Destination XL Group, Inc.’s two-week RSI is 33.51. This suggests that the stock is neutral at the moment and that DXLG shares’ price movement remains stable. The stochastic readings are equally revealing at 8.93% meaning the DXLG share price is currently in overbought territory.
The technical chart shows that the DXLG stock will likely settle at between $0.3305 and $0.3407 per share. However, if the stock dips below $0.3115, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.3027.
Currently, the stock is trading in the red of MACD, with a reading of -0.0079. 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 DXLG a rating of Outperform in their resuming review released on July 11. Wunderlich analysts see the stock as a Buy with a target price of $6.5 in a flash note released to investors on August 02 initiating covering the stock. Lake Street analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on March 21, placing it at $9 from $8.
The stocks P/S ratio currently stands below the group’s average of 298.4. Destination XL Group, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 8.4 industry average.