The stock of IZEA Worldwide, Inc. (NASDAQ:IZEA) is now priced at $1.1 and the shares are -0.06 points down or -5.17% lower compared to its previous closing price of $1.16. The stock had 3.492 million contracts set over the past session. IZEA shares’ daily volume is compared to its average trading volume at 14.244 million shares. However, it has a float of 31.96 million and although its performance was -27.15% over the week, it’s one to watch. Analysts have given the IZEA stock a yearly average price target of $1.43 per share. It means the stock’s upside potential is 30% with the IZEA share price recently placing at $1.025 to $1.17. However, some brokerage firms have priced the stock below the average, including one that has called $2.
The shorts are running away from the IZEA Worldwide, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the IZEA shares have declined. Short interest in the stock represents just 4.65% of its float, but the volume has dropped by -37219. The volume of shorted shares dropped to 1.488 million from 1.525 million shares over the last two weeks. The average intraday trading volume has been 3.298 million shares, which means that days to cover moved to roughly 1.
In the last trading session, IZEA Worldwide, Inc. (NASDAQ:IZEA) dropped by -$0.41 over the week and gained $0.01 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.13. The stock recorded its established 52-week high on 06/11/20.
Since 03/16/20, the stock has traded to a low of $0.07 at 1471.43%, 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 2.66. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, IZEA Worldwide, Inc.’s two-week RSI is 41.2. This suggests that the stock is neutral at the moment and that IZEA shares’ price movement remains stable. The stochastic readings are equally revealing at 6.43% meaning the IZEA share price is currently in overbought territory.
The technical chart shows that the IZEA stock will likely settle at between $1.1717 and $1.2433 per share. However, if the stock dips below $1.0267, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.9533.
Currently, the stock is trading in the red of MACD, with a reading of -0.1522. 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 Ladenburg Thalmann raised their recommendation for IZEA from Neutral to Buy in June 26 review. Craig Hallum analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on May 15. ROTH Capital analysts see the stock as Buy when the analysts initiated the share price coverage on June 03.
The average rating for the IZEA equity is 1 and is currently gathering a bullish momentum. Of 1 analysts tracking IZEA Worldwide, Inc. polled by Reuters, 0 rated IZEA 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.
The stocks P/S ratio currently stands below the group’s average of 42.2. IZEA Worldwide, Inc. has its P/E ratio at 2.5, which means that the stock is currently trading at a discount relative to the 5.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for IZEA Worldwide, Inc. (NASDAQ:IZEA) will decrease by about -99.83%, which will see them reach $5.25 million. The company’s full-year revenues are, however, expected to increase by about 5.8%, up from $18.96 million to $20.06 million. IZEA’s expected adjusted earnings should drop almost -25% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 3.45% to record -$0.3/share.