The stock of Amplify Energy Corp. (NYSE:AMPY) is now priced at $1.08 and the shares are -0.06 points down or -5.26% lower compared to its previous closing price of $1.14. The stock had 1.468 million contracts set over the past session. AMPY shares’ daily volume is compared to its average trading volume at 1.043 million shares. However, it has a float of 30.17 million and although its performance was -11.48% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AMPY share price recently placing at $1.05 to $1.17. However, some brokerage firms have priced the stock below the average, including one that has called $4.25.
The shorts are running away from the Amplify Energy Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AMPY shares have declined. Short interest in the stock represents just 7.04% of its float, but the volume has dropped by 0.
In the last trading session, Amplify Energy Corp. (NYSE:AMPY) dropped by -$0.14 over the week and lost -$0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.91. The stock recorded its established 52-week high on 11/05/19.
Since 03/18/20, the stock has traded to a low of $0.4925 at 119.29%, 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 4.28. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Amplify Energy Corp.’s two-week RSI is 35.64. This suggests that the stock is neutral at the moment and that AMPY shares’ price movement remains stable. The stochastic readings are equally revealing at 9.33% meaning the AMPY share price is currently in overbought territory.
The technical chart shows that the AMPY stock will likely settle at between $1.15 and $1.22 per share. However, if the stock dips below $1.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.98.
Currently, the stock is trading in the red of MACD, with a reading of -0.0589. 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 AMPY a rating of Buy in their intiating review released on November 22. Northland Capital analysts see the stock as a Outperform with a target price of $10 in a flash note released to investors on November 14 initiating covering the stock.
The average rating for the AMPY equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Amplify Energy Corp. polled by Reuters, 2 rated AMPY as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Amplify Energy Corp. (NYSE:AMPY) will decrease by about -99.84%, which will see them reach $56.4 million. The company’s full-year revenues are, however, expected to diminish by about -17.37%, down from $276 million to $228 million. AMPY’s expected adjusted earnings should drop almost -86.67% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -111.61% to record $0.13/share.