The stock of Nutrien Ltd. (NYSE:NTR) is now priced at $38.03 and the shares are -1.03 points down or -2.64% lower compared to its previous closing price of $39.06. The stock had 1.369 million contracts set over the past session. NTR shares’ daily volume is compared to its average trading volume at 1.638 million shares. However, it has a float of 569 million and although its performance was -3.84% over the week, it’s one to watch. Analysts have given the NTR stock a yearly average price target of $58.28 per share. It means the stock’s upside potential is 53.25% with the NTR share price recently placing at $37.82 to $38.905. However, some brokerage firms have priced the stock below the average, including one that has called $36.
The shorts are running away from the Nutrien Ltd. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the NTR shares have declined. Short interest in the stock represents just 0.54% of its float, but the volume has dropped by 0.
In the last trading session, Nutrien Ltd. (NYSE:NTR) dropped by -$1.52 over the week and gained $4.9 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $52.41. The stock recorded its established 52-week high on 09/16/19.
Since 03/18/20, the stock has traded to a low of $23.85 at 59.47%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Nutrien Ltd.’s two-week RSI is 58.47. This suggests that the stock is neutral at the moment and that NTR shares’ price movement remains stable. The stochastic readings are equally revealing at 69.36% meaning the NTR share price is currently in neutral territory.
The technical chart shows that the NTR stock will likely settle at between $38.68 and $39.34 per share. However, if the stock dips below $37.6, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $37.17.
Currently, the stock is trading in the red of MACD, with a reading of -0.42. 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 Atlantic Equities cut their recommendation for NTR from Overweight to Neutral in August 25 review. BofA Securities analysts upgraded their recommendation of the stock from Underperform to Buy in a flash note released to investors on July 13. Consumer Edge Research seeing the stock struggling downgraded it from Overweight to Equal Weight on May 14.
The average rating for the NTR equity is 2 and is currently gathering a bullish momentum. Of 24 analysts tracking Nutrien Ltd. polled by Reuters, 5 rated NTR as a hold. The remaining 19 analysts were split evenly. However, the split wasn’t equal as a majority (19) 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 NTR stock price is 12.51X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 26 below the group’s average of 73.3. Nutrien Ltd. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 1.2 industry average.