The stock of MOGU Inc. (NYSE:MOGU) is now priced at $3.14 and the shares are 0.41 points up or 15.02% higher compared to its previous closing price of $2.73. The stock had 3.974 million contracts set over the past session. MOGU shares’ daily volume is compared to its average trading volume at 1.443 million shares. However, it has a float of 88.16 million and although its performance was 44.7% over the week, it’s one to watch. Analysts have given the MOGU stock a yearly average price target of $3.2 per share. It means the stock’s upside potential is 1.91% with the MOGU share price recently placing at $2.65 to $3.43. However, some brokerage firms have priced the stock below the average, including one that has called $¥22.79.
The shorts are running away from the MOGU Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the MOGU shares have declined. Short interest in the stock represents just 0.07% of its float, but the volume has dropped by 0.
In the last trading session, MOGU Inc. (NYSE:MOGU) raised by $0.97 over the week and gained $0.85 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.85. The stock recorded its established 52-week high on 07/07/20.
Since 03/16/20, the stock has traded to a low of $0.88 at 256.66%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, MOGU Inc.’s two-week RSI is 60.41. This suggests that the stock is neutral at the moment and that MOGU shares’ price movement remains stable. The stochastic readings are equally revealing at 43.44% meaning the MOGU share price is currently in neutral territory.
The technical chart shows that the MOGU stock will likely settle at between $3.5 and $3.85 per share. However, if the stock dips below $2.72, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.29.
Currently, the stock is trading in the green of MACD, with a reading of 0.39. 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 China Renaissance raised their recommendation for MOGU from Hold to Buy in March 17 review while maintain their target price of $3.4. Morgan Stanley analysts downgraded their recommendation of the stock from Equal-Weight to Underweight in a flash note released to investors on June 04. Morgan Stanley analysts see the stock as Equal-Weight when the analysts initiated the share price coverage on January 22, placing it at $16.
The average rating for the MOGU equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking MOGU Inc. polled by Reuters, 0 rated MOGU as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 MOGU stock price is 33.76X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 66.4. MOGU Inc. has its P/E ratio at 1.2, which means that the stock is currently trading at a discount relative to the 14.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for MOGU Inc. (NYSE:MOGU) will decrease by about -99.87%, which will see them reach $22.38 million. The company’s full-year revenues are, however, expected to diminish by about -1.65%, down from $119 million to $118 million. MOGU’s expected adjusted earnings should drop almost -33.33% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -86.76% to record -$0.09/share.