The stock of Party City Holdco Inc. (NYSE:PRTY) is now priced at $2.22 and the shares are -0.38 points down or -14.62% lower compared to its previous closing price of $2.6. The stock had 11.241 million contracts set over the past session. PRTY shares’ daily volume is compared to its average trading volume at 9.531 million shares. However, it has a float of 85.29 million and although its performance was 16.84% over the week, it’s one to watch. Analysts have given the PRTY stock a yearly average price target of $2.25 per share. It means the stock’s upside potential is 1.35% with the PRTY share price recently placing at $2.2 to $2.66.
The shorts are running away from the Party City Holdco Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PRTY shares have declined. Short interest in the stock represents just 11.97% of its float, but the volume has dropped by 0.
In the last trading session, Party City Holdco Inc. (NYSE:PRTY) raised by $0.32 over the week and gained $0.91 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.37. The stock recorded its established 52-week high on 10/28/19.
Since 03/18/20, the stock has traded to a low of $0.26 at 753.85%, 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 2.95. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Party City Holdco Inc.’s two-week RSI is 61.25. This suggests that the stock is neutral at the moment and that PRTY shares’ price movement remains stable. The stochastic readings are equally revealing at 70.14% meaning the PRTY share price is currently in oversold territory.
The technical chart shows that the PRTY stock will likely settle at between $2.52 and $2.82 per share. However, if the stock dips below $2.06, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.9.
Currently, the stock is trading in the green of MACD, with a reading of 0.31. 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 Telsey Advisory Group though dropped target price of PRTY stock from $3 to $1 but maintained Market Perform recommendation in their March 13 review. Stephens analysts downgraded their recommendation of the stock from Overweight to Equal-Weight while keeping its target price at $8 to $2 in a flash note released to investors on March 13. Telsey Advisory Group seeing the stock struggling downgraded it from Outperform to Market Perform on November 08 placing it at $9 to $2.50.
The average rating for the PRTY equity is 2.8 and is currently gathering a bullish momentum. Of 5 analysts tracking Party City Holdco Inc. polled by Reuters, 4 rated PRTY as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 PRTY stock price is 8.92X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 58.7. Party City Holdco Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 7.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Party City Holdco Inc. (NYSE:PRTY) will decrease by about -99.81%, which will see them reach $489 million. The company’s full-year revenues are, however, expected to diminish by about -22.13%, down from $2350 million to $1830 million. PRTY’s expected adjusted earnings should surge almost 39.29% to end up at -$0.39 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -315.22% to record -$0.99/share.