The stock of Sunstone Hotel Investors, Inc. (NYSE:SHO) is now priced at $8.62 and the shares are 0.17 points up or 2.01% higher compared to its previous closing price of $8.45. The stock had 6.706 million contracts set over the past session. SHO shares’ daily volume is compared to its average trading volume at 3.72 million shares. However, it has a float of 213 million and although its performance was 15.75% over the week, it’s one to watch. Analysts have given the SHO stock a yearly average price target of $8.71 per share. It means the stock’s upside potential is 1.04% with the SHO share price recently placing at $8.12 to $8.49. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are running away from the Sunstone Hotel Investors, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SHO shares have declined. Short interest in the stock represents just 2.29% of its float, but the volume has dropped by 0.
In the last trading session, Sunstone Hotel Investors, Inc. (NYSE:SHO) raised by $0.96 over the week and gained $1.13 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.47. The stock recorded its established 52-week high on 11/05/19.
Since 03/18/20, the stock has traded to a low of $5.75 at 49.91%, 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 1.12. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sunstone Hotel Investors, Inc.’s two-week RSI is 62.42. This suggests that the stock is neutral at the moment and that SHO shares’ price movement remains stable. The stochastic readings are equally revealing at 93.02% meaning the SHO share price is currently in oversold territory.
The technical chart shows that the SHO stock will likely settle at between $8.79 and $8.97 per share. However, if the stock dips below $8.53, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.45.
Currently, the stock is trading in the green of MACD, with a reading of 0.57. 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 Evercore ISI raised their recommendation for SHO from In-line to Outperform in August 10 review. Morgan Stanley analysts upgraded their recommendation of the stock from Underweight to Equal-Weight while keeping its target price at $8 in a flash note released to investors on July 29. SunTrust seeing the stock struggling downgraded it from Hold to Sell on July 24.
The average rating for the SHO equity is 2.92 and is currently gathering a bullish momentum. Of 13 analysts tracking Sunstone Hotel Investors, Inc. polled by Reuters, 7 rated SHO as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Sunstone Hotel Investors, Inc. (NYSE:SHO) will decrease by about -99.21%, which will see them reach $82.32 million. The company’s full-year revenues are, however, expected to diminish by about -63.77%, down from $1120 million to $405.83 million. SHO’s expected adjusted earnings should drop almost -358.33% to end up at -$0.31 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -412.96% to record -$1.69/share.