With the current price of $1.59, the stock of Gannett Co., Inc. (NYSE:GCI) concluded the trading session seeing its price drop by -0.05 points or at a loss of -3.05% compared to its previous day’s closing price of $1.64. About 1.007 million shares of the stock changed hands on the day. The trading volume of GCI’s shares during the past session compares with the stock’s average daily trading volume of 3.908 million shares. On the other hand, a float of 128 million shares and a weekly performance of -5.36% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for GCI’s share which suggests that the stock, price of which is currently buoying between $1.56 and $1.683, is prone to a loss of -100%.

The latest data released on July 31, 2020 shows that the short float in the Gannett Co., Inc.’s stock is trending downward as short interest in GCI shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the GCI is currently comprised of 17.97% of the float. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to shares from the previous figure of shares. Stock’s average intraday volume is now standing at shares which indicate that the days to cover the shorts are nearly.

After concluding the day’s trading, price of Gannett Co., Inc. (NYSE:GCI) is down -$0.09 over the week and it is $0.09 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $9.82 that was attained on 09/24/19.

The stock has traded as low as $0.63 in past 52-week, and its current price is 152.38% above from that 52-week low price mark recorded on 04/07/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.53. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.

Current indicators are pointing at 48.82 as 14-days RSI of Gannett Co., Inc. This means that the GCI is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 42.51%, implying stock’s share price is buoying in a neutral state.

Technical chart is showing 1st resistance point of $1.662 for the GCI’s share while placing it at a 2nd resistance point of $1.734 to be settled at. But if the stock takes a plunge lower than the 1st support price of $1.539 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.488.

MACD oscillator is showing a reading of -0.0167 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.

Citigroup lowered its recommendation for GCI stock from Buy to Sell in a review note dated April 06. The stock gets its recommendation downgraded from Neutral to Underweight from the analysts at JP Morgan in their July 06 note to investors.Argusanalysts downgraded their recommendation from Buy to Hold on February 13.

The average rating of 4 for GCI is placing the stock in bearish category at the moment. In a poll by Reuters including 4 analysts in it who kept tracking the Gannett Co., Inc., 1 rated the stock as hold. Others were in different opinions for the GCI. Out of remaining 3 analysts, 0 rated the stock as a buy or strong buy. 3 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.

Projection by Zacks Consensus Estimates suggests that Gannett Co., Inc. (NYSE:GCI) will see its current-quarter revenues drop by nearly -99.9% to be decreased to about $799 million. Full-year revenue of the company is however forecasted to be increased by nearly 81.82% to bring $3400 million in revenues against last year revenue of $1870 million. Earnings, after adjustments, are likely to surge by 67.74% to post an EPS of -$0.52, while estimate for company’s full year earnings is -$3.66 per share with a growth rate of -1625%.


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