With the current price of $0.59, the stock of Town Sports International Holdings, Inc. (NASDAQ:CLUB) concluded the trading session seeing its price rise by 0.05 points or at a gain of 9.41% compared to its previous day’s closing price of $0.54. About 1.121 million shares of the stock changed hands on the day. The trading volume of CLUB’s shares during the past session compares with the stock’s average daily trading volume of 2.021 million shares. On the other hand, a float of 25.48 million shares and a weekly performance of -13.53% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for CLUB’s share which suggests that the stock, price of which is currently buoying between $0.52 and $0.595, 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 $3 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Town Sports International Holdings, Inc.’s stock is trending downward as short interest in CLUB shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the CLUB is currently comprised of 3.51% of the float as the volume of shorted shares declined by -78045 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 815829 shares from the previous figure of 893874 shares. Stock’s average intraday volume is now standing at 279866 shares which indicate that the days to cover the shorts are nearly 2.91507.
After concluding the day’s trading, price of Town Sports International Holdings, Inc. (NASDAQ:CLUB) is down -$0.0924 over the week and it is $0.1456 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3 that was attained on 01/14/20.
The stock has traded as low as $0.3 in past 52-week, and its current price is 96.9% above from that 52-week low price mark recorded on 04/16/20, 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 2.41. 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 51.91 as 14-days RSI of Town Sports International Holdings, Inc. This means that the CLUB 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 18.43%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $0.6171 for the CLUB’s share while placing it at a 2nd resistance point of $0.6436 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.5421 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.4936.
MACD oscillator is showing a reading of -0.0978 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.
Imperial Capital maintained its Outperform recommendation for CLUB stock in a review note dated April 30, but moved the price target up from $11 to $5.50. The stock gets a Outperform recommendation from analysts at Imperial Capital who changed the target price from $13 to $11 in their October 30 note to investors.Imperial Capital analysts reiterated their recommendation of Outperform rating for the stock on May 01 while suggesting a price target of $12.50 which previously was $10.50.