The stock of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) is now priced at $9.13 and the shares are 0.43 points up or 4.94% higher compared to its previous closing price of $8.7. The stock had 1.005 million contracts set over the past session. RRGB shares’ daily volume is compared to its average trading volume at 1.317 million shares. However, it has a float of 12.69 million and although its performance was -2.98% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the RRGB share price recently placing at $8.55 to $9.18. However, some brokerage firms have priced the stock below the average, including one that has called $10.

The shorts are climbing into the Red Robin Gourmet Burgers, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the RRGB shares have risen. Short interest in the stock represents just 36.96% of its float, but the volume has raised by 186046. The volume of shorted shares rised to 4.69 million from 4.504 million shares over the last two weeks. The average intraday trading volume has been 1.251 million shares, which means that days to cover moved to roughly 3.750188.

In the last trading session, Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) dropped by -$0.28 over the week and gained $0.7 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $37.29. The stock recorded its established 52-week high on 02/21/20.

Since 03/18/20, the stock has traded to a low of $4.04 at 125.99%, 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 2.46. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Red Robin Gourmet Burgers, Inc.’s two-week RSI is 47.45. This suggests that the stock is neutral at the moment and that RRGB shares’ price movement remains stable. The stochastic readings are equally revealing at 21.6% meaning the RRGB share price is currently in overbought territory.

The technical chart shows that the RRGB stock will likely settle at between $9.36 and $9.58 per share. However, if the stock dips below $8.73, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.32.

Currently, the stock is trading in the red of MACD, with a reading of -0.36. 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 though dropped target price of RRGB stock from $44 to $42 but maintained Buy recommendation in their November 07 review. BofA/Merrill analysts downgraded their recommendation of the stock from Neutral to Underperform in a flash note released to investors on August 27. Maxim Group analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on August 07, placing it at $44 from $49.

The average rating for the RRGB equity is 3.14 and is currently gathering a bearish momentum. Of 7 analysts tracking Red Robin Gourmet Burgers, Inc. polled by Reuters, 6 rated RRGB as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 1 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 46.4.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) will decrease by about -99.87%, which will see them reach $204 million. The company’s full-year revenues are, however, expected to diminish by about -31.03%, down from $1320 million to $910 million. RRGB’s expected adjusted earnings should surge almost 579.17% to end up at -$1.63 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -1967.74% to record -$11.58/share.

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