The stock of Denny’s Corporation (NASDAQ:DENN) is now priced at $10.63 and the shares are 0.16 points up or 1.53% higher compared to its previous closing price of $10.47. The stock had 1.41 million contracts set over the past session. DENN shares’ daily volume is compared to its average trading volume at 1.821 million shares. However, it has a float of 61.59 million and although its performance was -0.75% over the week, it’s one to watch. Analysts have given the DENN stock a yearly average price target of $12.36 per share. It means the stock’s upside potential is 16.27% with the DENN share price recently placing at $10.3 to $10.67.
The shorts are climbing into the Denny’s Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DENN shares have risen. Short interest in the stock represents just 4.86% of its float, but the volume has raised by 589277. The volume of shorted shares rised to 2.996 million from 2.407 million shares over the last two weeks. The average intraday trading volume has been 1.489 million shares, which means that days to cover moved to roughly 2.011486.
In the last trading session, Denny’s Corporation (NASDAQ:DENN) dropped by -$0.08 over the week and gained $1.62 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.88. The stock recorded its established 52-week high on 09/05/19.
Since 03/19/20, the stock has traded to a low of $4.5 at 136.22%, 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 1.37. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Denny’s Corporation’s two-week RSI is 60.49. This suggests that the stock is neutral at the moment and that DENN shares’ price movement remains stable. The stochastic readings are equally revealing at 89.68% meaning the DENN share price is currently in oversold territory.
The technical chart shows that the DENN stock will likely settle at between $10.77 and $10.9 per share. However, if the stock dips below $10.4, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.16.
Currently, the stock is trading in the green of MACD, with a reading of 0.09. 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 Stephens cut their recommendation for DENN from Overweight to Equal-Weight in July 13 review while maintai their target price of $12 to $10. SunTrust analysts see the stock as a Buy, but they also raised the share’s target price from $12 to $15 in a flash note released to investors on June 17. SunTrust seeing the improvements upgraded the stock from Hold to Buy on April 01, placing it at $21 to $11.
The average rating for the DENN equity is 2.13 and is currently gathering a bullish momentum. Of 8 analysts tracking Denny’s Corporation polled by Reuters, 3 rated DENN as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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 DENN stock price is 21.69X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 12.4 below the group’s average of 46.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Denny’s Corporation (NASDAQ:DENN) will decrease by about -99.82%, which will see them reach $71.95 million. The company’s full-year revenues are, however, expected to diminish by about -43.61%, down from $541 million to $305 million. DENN’s expected adjusted earnings should drop almost -116.67% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -100% to record $0/share.