The stock of Big 5 Sporting Goods Corporation (NASDAQ:BGFV) is now priced at $6.25 and the shares are -0.56 points down or -8.22% lower compared to its previous closing price of $6.81. The stock had 1.272 million contracts set over the past session. BGFV shares’ daily volume is compared to its average trading volume at 2.247 million shares. However, it has a float of 18.81 million and although its performance was -6.02% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the BGFV share price recently placing at $6.21 to $6.89. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are climbing into the Big 5 Sporting Goods Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BGFV shares have risen. Short interest in the stock represents just 28.46% of its float, but the volume has raised by 889156. The volume of shorted shares rised to 5.353 million from 4.464 million shares over the last two weeks. The average intraday trading volume has been 3.068 million shares, which means that days to cover moved to roughly 1.744783.
In the last trading session, Big 5 Sporting Goods Corporation (NASDAQ:BGFV) dropped by -$0.4 over the week and gained $1.84 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $8.47. The stock recorded its established 52-week high on 08/07/20.
Since 04/03/20, the stock has traded to a low of $0.65 at 861.54%, 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 2.64. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Big 5 Sporting Goods Corporation’s two-week RSI is 57.54. This suggests that the stock is neutral at the moment and that BGFV shares’ price movement remains stable. The stochastic readings are equally revealing at 39.34% meaning the BGFV share price is currently in neutral territory.
The technical chart shows that the BGFV stock will likely settle at between $6.69 and $7.13 per share. However, if the stock dips below $6.01, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.77.
Currently, the stock is trading in the green of MACD, with a reading of 0.06. 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 Deutsche Bank cut their recommendation for BGFV from Buy to Hold in August 02 review while maintai their target price of $20 to $10. Deutsche Bank analysts see the stock as a Buy, but they also raised the share’s target price from $16.50 to $18 in a flash note released to investors on November 02. Deutsche Bank seeing the improvements upgraded the stock from Hold to Buy on October 06, placing it at $10 to $16.50.
The stocks P/S ratio currently stands at 9.9 below the group’s average of 54.1. Big 5 Sporting Goods Corporation has its P/E ratio at 0.7, which means that the stock is currently trading at a discount relative to the 7.2 industry average.