With the current price of $0.69, the stock of Genesis Healthcare, Inc. (NYSE:GEN) concluded the trading session seeing its price drop by -0.04 points or at a loss of -5.3% compared to its previous day’s closing price of $0.73. About 1.523 million shares of the stock changed hands on the day. The trading volume of GEN’s shares during the past session compares with the stock’s average daily trading volume of 1.418 million shares. On the other hand, a float of 62.98 million shares and a weekly performance of -23.87% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $1.6 for GEN’s share which suggests that the stock, price of which is currently buoying between $0.671 and $0.7335, has a potential to gain 131.88%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $0.75 to the stock.
The latest data released on July 31, 2020 shows that the short float in the Genesis Healthcare, Inc.’s stock is trending downward as short interest in GEN shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the GEN is currently comprised of 3.55% of the float. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to shares from the previous figure of shares. Stock’s average intraday volume is now standing at shares which indicate that the days to cover the shorts are nearly.
After concluding the day’s trading, price of Genesis Healthcare, Inc. (NYSE:GEN) is down -$0.2179 over the week and it is -$0.0941 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $1.8595 that was attained on 02/25/20.
The stock has traded as low as $0.58 in past 52-week, and its current price is 19.83% above from that 52-week low price mark recorded on 05/15/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.62. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 35.76 as 14-days RSI of Genesis Healthcare, Inc. This means that the GEN is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 8.74%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $0.7287 for the GEN’s share while placing it at a 2nd resistance point of $0.7623 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.6662 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.6373.
MACD oscillator is showing a reading of -0.1432 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Stifel lifted its recommendation for GEN stock from Hold to Buy in a review note dated November 29. The stock gets its recommendation downgraded from Outperform to Sector Perform from the analysts at RBC Capital Mkts who assigned a target price of $3 to $3.50 in their November 21 note to investors.RBC Capital Mkts analysts reiterated their recommendation of Outperform rating for the stock on May 16 while suggesting a price target of $3 which previously was $5.
The average rating of 3 for GEN is placing the stock in bullish category at the moment. In a poll by Reuters including 2 analysts in it who kept tracking the Genesis Healthcare, Inc., 2 rated the stock as hold. Others were in different opinions for the GEN. Out of remaining 0 analysts, 0 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that GEN stock is lagging behind earnings per share estimates with a forward price-to-earnings ratio of 0. Stock’s current price-to-sales (P/S) ratio of 1.9 is in front of industry’s average P/S ratio of 31.3. A comparison of Genesis Healthcare, Inc.’s trailing 12-months P/E ratio of 0 implies that it is trading above the industry’s average P/E ratio, which currently is 5.
Projection by Zacks Consensus Estimates suggests that Genesis Healthcare, Inc. (NYSE:GEN) will see its current-quarter revenues drop by nearly -8.98% to be decreased to about $993.97 million. Full-year revenue of the company is however forecasted to be fell to nearly -8.1% to bring $4200 million in revenues against last year revenue of $4570 million. Earnings, after adjustments, are likely to fell by -112.5% to post an EPS of -$0.05, while estimate for company’s full year earnings is -$0.12 per share with a growth rate of -220%.