With the current price of $67.59,the stock of Peloton Interactive,Inc. (NASDAQ:PTON) concluded the trading session seeing its price drop by -2.23 points or at a loss of -3.19% compared to its previous day’s closing price of $69.82. About 3.702 million shares of the stock changed hands on the day. The trading volume of PTON’s shares during the past session compares with the stock’s average daily trading volume of 7.582 million shares. On the other hand,a float of 206 million shares and a weekly performance of 5.02% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $63.3 for PTON’s share which suggests that the stock,price of which is currently buoying between $67.46 and $69.76,is prone to a loss of -6.35%. But still,there are some analysts recommending a price below the agreed average price and one of them has given a target price of $26 to the stock.
The latest data released on July 31,2020 shows that the short float in the Peloton Interactive,Inc.’s stock is trending downward as short interest in PTON shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the PTON is currently comprised of 3.92% of the float as the volume of shorted shares declined by -270989 shares. Over the past two weeks,stock’s short interests improved as number of shorted shares reduced to 8.063 million shares from the previous figure of 8.334 million shares. Stock’s average intraday volume is now standing at 5.4 million shares which indicate that the days to cover the shorts are nearly 1.493085.
Current indicators are pointing at 55.71 as 14-days RSI of Peloton Interactive,Inc. This means that the PTON 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 49.68%,implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $69.53 for the PTON’s share while placing it at a 2nd resistance point of $70.69 to be settled at. But if the stock takes a plunge lower than the 1st support price of $67.45 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $66.53.
MACD oscillator is showing a reading of 1.35 for the stock which means that it is currently in the green 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.
Telsey Advisory Group maintained its Outperform recommendation for PTON stock in a review note dated July 31,but moved the price target up from $53 to $82. The stock gets a Overweight recommendation from analysts at KeyBanc Capital Markets who changed the target price from $70 to $74 in their July 28 note to investors.Wedbush analysts reiterated their recommendation of Outperform rating for the stock on July 20 while suggesting a price target of $66 which previously was $63.
The average rating of 1.77 for PTON is placing the stock in bullish category at the moment. In a poll by Reuters including 26 analysts in it who kept tracking the Peloton Interactive,Inc.,1 rated the stock as hold. Others were in different opinions for the PTON. Out of remaining 25 analysts,24 rated the stock as a buy or strong buy. 1 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.