With the current price of $18.46, the stock of GFL Environmental Inc. (NYSE:GFL) concluded the trading session seeing its price drop by -0.11 points or at a loss of -0.59% compared to its previous day’s closing price of $18.57. About 1.022 million shares of the stock changed hands on the day. The trading volume of GFL’s shares during the past session compares with the stock’s average daily trading volume of 1.204 million shares. On the other hand, a float of 233 million shares and a weekly performance of -4.65% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for GFL’s share which suggests that the stock, price of which is currently buoying between $18.34 and $18.85, 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 $21.21 to the stock.
The latest data released on July 31, 2020 shows that the short float in the GFL Environmental Inc.’s stock is trending downward as short interest in GFL shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the GFL is currently comprised of 2.89% 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.
Current indicators are pointing at 37.29 as 14-days RSI of GFL Environmental Inc. This means that the GFL 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 20.2%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $18.76 for the GFL’s share while placing it at a 2nd resistance point of $19.06 to be settled at. But if the stock takes a plunge lower than the 1st support price of $18.25 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $18.04.
MACD oscillator is showing a reading of -0.59 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.
Goldman lifted its recommendation for GFL stock from Neutral to Buy in a review note dated August 19, and moved the price target up at $21 to $24. The stock gets its recommendation upgraded from Neutral to Sector Outperform from the analysts at CIBC in their July 15 note to investors.Jefferies analysts started covering the stock with recommendation of Buy rating on July 01.
The average rating of 2 for GFL is placing the stock in bullish category at the moment. In a poll by Reuters including 11 analysts in it who kept tracking the GFL Environmental Inc., 1 rated the stock as hold. Others were in different opinions for the GFL. Out of remaining 10 analysts, 10 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 GFL 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 54.5. A comparison of GFL Environmental Inc.’s trailing 12-months P/E ratio of 1.4 implies that it is trading above the industry’s average P/E ratio, which currently is 4.2.