With the current price of $0.18, the stock of CBL & Associates Properties, Inc. (NYSE:CBL) concluded the trading session seeing its price drop by -0.01 points or at a loss of -0.81% compared to its previous day’s closing price of $0.19. About 5.877 million shares of the stock changed hands on the day. The trading volume of CBL’s shares during the past session compares with the stock’s average daily trading volume of 19.751 million shares. On the other hand, a float of 158 million shares and a weekly performance of -9.77% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for CBL’s share which suggests that the stock, price of which is currently buoying between $0.181 and $0.191, 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 $0.15 to the stock.
The latest data released on July 31, 2020 shows that the short float in the CBL & Associates Properties, Inc.’s stock is trending downward as short interest in CBL shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the CBL is currently comprised of 10.58% 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 CBL & Associates Properties, Inc. (NYSE:CBL) is down -$0.0199 over the week and it is -$0.0177 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $1.78 that was attained on 11/06/19.
The stock has traded as low as $0.1401 in past 52-week, and its current price is 31.12% above from that 52-week low price mark recorded on 08/03/20, 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 2.61. 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 42.87 as 14-days RSI of CBL & Associates Properties, Inc. This means that the CBL 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 4.73%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $0.1895 for the CBL’s share while placing it at a 2nd resistance point of $0.1952 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.1795 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.1752.
MACD oscillator is showing a reading of -0.0121 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.
BTIG Research lifted its recommendation for CBL stock from Sell to Neutral in a review note dated May 31. The stock gets its recommendation downgraded from Neutral to Underweight from the analysts at JP Morgan in their December 19 note to investors.Jefferiesanalysts downgraded their recommendation from Hold to Underperform on December 21.
The average rating of 4.17 for CBL is placing the stock in bearish category at the moment. In a poll by Reuters including 5 analysts in it who kept tracking the CBL & Associates Properties, Inc., 0 rated the stock as hold. Others were in different opinions for the CBL. Out of remaining 5 analysts, 0 rated the stock as a buy or strong buy. 5 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 CBL stock is lagging behind current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 20.1. A comparison of CBL & Associates Properties, Inc.’s trailing 12-months P/E ratio of 0.1 implies that it is trading above the industry’s average P/E ratio, which currently is 1.7.
Projection by Zacks Consensus Estimates suggests that CBL & Associates Properties, Inc. (NYSE:CBL) will see its current-quarter revenues drop by nearly -99.88% to be decreased to about $152 million. Full-year revenue of the company is however forecasted to be fell to nearly -17.76% to bring $632 million in revenues against last year revenue of $768 million. Earnings, after adjustments, are likely to fell by -26.92% to post an EPS of -$0.19, while estimate for company’s full year earnings is -$1.34 per share with a growth rate of 81.08%.