With the current price of $12.5, the stock of American Airlines Group Inc. (NASDAQ:AAL) concluded the trading session seeing its price drop by -0.18 points or at a loss of -1.42% compared to its previous day’s closing price of $12.68. About 41.957 million shares of the stock changed hands on the day. The trading volume of AAL’s shares during the past session compares with the stock’s average daily trading volume of 96.503 million shares. On the other hand, a float of 502 million shares and a weekly performance of -6.02% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $11.56 for AAL’s share which suggests that the stock, price of which is currently buoying between $12.26 and $12.67, is prone to a loss of -7.52%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $1 to the stock.
The latest data released on July 31, 2020 shows that the short float in the American Airlines Group Inc.’s stock is trending upward as short interest in AAL shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the AAL is currently comprised of 31.62% of the float as the volume of shorted shares inclined by 8627943 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 158.825 million shares from the previous figure of 150.197 million shares. Stock’s average intraday volume is now standing at 59.398 million shares which indicate that the days to cover the shorts are nearly 2.673889.
After concluding the day’s trading, price of American Airlines Group Inc. (NASDAQ:AAL) is down -$0.8 over the week and it is $0.73 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $31.67 that was attained on 10/28/19.
The stock has traded as low as $8.25 in past 52-week, and its current price is 51.52% above from that 52-week low price mark recorded on 05/14/20, 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 1.74. 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 47.55 as 14-days RSI of American Airlines Group Inc. This means that the AAL 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 42.9%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $12.69 for the AAL’s share while placing it at a 2nd resistance point of $12.89 to be settled at. But if the stock takes a plunge lower than the 1st support price of $12.28 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $12.07.
MACD oscillator is showing a reading of -0.55 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.
Raymond James lifted its recommendation for AAL stock from Underperform to Mkt Perform in a review note dated July 27. The stock gets a Outperform recommendation from analysts at Cowen who changed the target price from $15 to $20 in their June 17 note to investors.Seaport Global Securities analysts started covering the stock with recommendation of Buy rating on June 17, while suggesting a price target of $27 to it.
The average rating of 3.28 for AAL is placing the stock in bearish category at the moment. In a poll by Reuters including 19 analysts in it who kept tracking the American Airlines Group Inc., 7 rated the stock as hold. Others were in different opinions for the AAL. Out of remaining 12 analysts, 4 rated the stock as a buy or strong buy. 8 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.
Projection by Zacks Consensus Estimates suggests that American Airlines Group Inc. (NASDAQ:AAL) will see its current-quarter revenues rise by nearly 74.48% to be increased to about $2830 million. Full-year revenue of the company is however forecasted to be fell to nearly -61.85% to bring $17500 million in revenues against last year revenue of $45800 million. Earnings, after adjustments, are likely to fell by -511.97% to post an EPS of -$5.85, while estimate for company’s full year earnings is -$19.18 per share with a growth rate of -491.43%.