The stock of Drive Shack Inc. (NYSE:DS) is now priced at $1.36 and the shares are -0.1 points down or -6.85% lower compared to its previous closing price of $1.46. The stock had 2.38 million contracts set over the past session. DS shares’ daily volume is compared to its average trading volume at 1.976 million shares. However, it has a float of 58.29 million and although its performance was -18.56% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the DS share price recently placing at $1.26 to $1.5099. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Drive Shack Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DS shares have declined. Short interest in the stock represents just 3.37% of its float, but the volume has dropped by 0.
In the last trading session, Drive Shack Inc. (NYSE:DS) dropped by -$0.31 over the week and lost -$0.3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.2. The stock recorded its established 52-week high on 08/26/19.
Since 03/19/20, the stock has traded to a low of $0.86 at 58.14%, 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 1.65. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Drive Shack Inc.’s two-week RSI is 29.74. This suggests that the stock is overbought at the moment and that DS shares’ price movement remains not stable. The stochastic readings are equally revealing at 13.07% meaning the DS share price is currently in overbought territory.
The technical chart shows that the DS stock will likely settle at between $1.4933 and $1.6265 per share. However, if the stock dips below $1.2434, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.1267.
Currently, the stock is trading in the red of MACD, with a reading of -0.1367. 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 Maxim Group assigned DS a rating of Buy in their intiating review released on June 01. BTIG Research analysts see the stock as a Buy with a target price of $3 in a flash note released to investors on April 21 initiating covering the stock. JMP Securities analysts see the stock as Mkt Outperform when the analysts initiated the share price coverage on October 15, placing it at $8.
The average rating for the DS equity is 1.67 and is currently gathering a bullish momentum. Of 3 analysts tracking Drive Shack Inc. polled by Reuters, 0 rated DS as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Drive Shack Inc. (NYSE:DS) will decrease by about -99.79%, which will see them reach $68.48 million. The company’s full-year revenues are, however, expected to diminish by about -14.3%, down from $272 million to $233 million. DS’s expected adjusted earnings should surge almost 0% to end up at -$0.2 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 45.56% to record -$1.31/share.