With the current price of $1.11, the stock of Remark Holdings, Inc. (NASDAQ:MARK) concluded the trading session seeing its price drop by -0.04 points or at a loss of -3.48% compared to its previous day’s closing price of $1.15. About 2.988 million shares of the stock changed hands on the day. The trading volume of MARK’s shares during the past session compares with the stock’s average daily trading volume of 15.981 million shares. On the other hand, a float of 81.07 million shares and a weekly performance of -7.5% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for MARK’s share which suggests that the stock, price of which is currently buoying between $1.08 and $1.15, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $4.25 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Remark Holdings, Inc.’s stock is trending upward as short interest in MARK shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the MARK is currently comprised of 15.48% of the float as the volume of shorted shares inclined by 2471660 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 15.022 million shares from the previous figure of 12.551 million shares. Stock’s average intraday volume is now standing at 8.065 million shares which indicate that the days to cover the shorts are nearly 1.862649.
After concluding the day’s trading, price of Remark Holdings, Inc. (NASDAQ:MARK) is down -$0.09 over the week and it is -$0.27 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3.56 that was attained on 05/27/20.
The stock has traded as low as $0.25 in past 52-week, and its current price is 344% above from that 52-week low price mark recorded on 03/24/20, 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 3.14. 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 30.73 as 14-days RSI of Remark Holdings, Inc. This means that the MARK 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 6.67%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $1.1467 for the MARK’s share while placing it at a 2nd resistance point of $1.1833 to be settled at. But if the stock takes a plunge lower than the 1st support price of $1.0767 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.0433.
MACD oscillator is showing a reading of -0.09 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.
ROTH Capital maintained its Buy recommendation for MARK stock in a review note dated January 31, but moved the price target up from $10.25 to $20.50. The stock gets a Buy recommendation from analysts at ROTH Capital who started covering the stock with a target price of $8.5 in their October 13 note to investors.Maxim Group analysts started covering the stock with recommendation of Buy rating on July 01, while suggesting a price target of $11 to it.
The average rating of 2 for MARK is placing the stock in bullish category at the moment. In a poll by Reuters including 1 analysts in it who kept tracking the Remark Holdings, Inc., 0 rated the stock as hold. Others were in different opinions for the MARK. Out of remaining 1 analysts, 1 rated the stock as a buy or strong buy. 0 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.
A quick look at other side of the picture shows that MARK stock is lagging behind the rear of industry’s average P/S ratio of 44.8. A comparison of Remark Holdings, Inc.’s trailing 12-months P/E ratio of 0 implies that it is trading above the industry’s average P/E ratio, which currently is 6.2.
Projection by Zacks Consensus Estimates suggests that Remark Holdings, Inc. (NASDAQ:MARK) will see its current-quarter revenues drop by nearly -99.88% to be decreased to about $2.82 million. Full-year revenue of the company is however forecasted to be increased by nearly 82.07% to bring $9.14 million in revenues against last year revenue of $5.02 million. Earnings, after adjustments, are likely to fell by -63.64% to post an EPS of -$0.04, while estimate for company’s full year earnings is -$0.24 per share with a growth rate of -58.62%.