The stock of American Software, Inc. (NASDAQ:AMSWA) is now priced at $14.82 and the shares are -1.15 points down or -7.2% lower compared to its previous closing price of $15.97. The stock had 1.035 million contracts set over the past session. AMSWA shares’ daily volume is compared to its average trading volume at 0.203 million shares. However, it has a float of 21.66 million and although its performance was -13.54% over the week, it’s one to watch. Analysts have given the AMSWA stock a yearly average price target of $21 per share. It means the stock’s upside potential is 41.7% with the AMSWA share price recently placing at $14.5401 to $15.78. However, some brokerage firms have priced the stock below the average, including one that has called $21.
The shorts are running away from the American Software, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AMSWA shares have declined. Short interest in the stock represents just 3.49% of its float, but the volume has dropped by -60806. The volume of shorted shares dropped to 756851 from 817657 shares over the last two weeks. The average intraday trading volume has been 97063 shares, which means that days to cover moved to roughly 7.797523.
In the last trading session, American Software, Inc. (NASDAQ:AMSWA) dropped by -$2.32 over the week and lost -$1.65 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.48. The stock recorded its established 52-week high on 06/05/20.
Since 03/18/20, the stock has traded to a low of $9.05 at 63.76%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, American Software, Inc.’s two-week RSI is 30.82. This suggests that the stock is neutral at the moment and that AMSWA shares’ price movement remains stable. The stochastic readings are equally revealing at 44.03% meaning the AMSWA share price is currently in neutral territory.
The technical chart shows that the AMSWA stock will likely settle at between $15.55 and $16.29 per share. However, if the stock dips below $14.31, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.81.
Currently, the stock is trading in the red of MACD, with a reading of -0.82. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at B. Riley FBR raised their recommendation for AMSWA from Neutral to Buy in February 21 review while maintain their target price of $18 to $19.50. B. Riley FBR analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $17 in a flash note released to investors on November 19. B. Riley FBR seeing the improvements upgraded the stock from Neutral to Buy on August 29, placing it at $13 to $17.
The average rating for the AMSWA equity is 1.5 and is currently gathering a bullish momentum. Of 3 analysts tracking American Software, Inc. polled by Reuters, 0 rated AMSWA as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the AMSWA stock price is 43.59X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for American Software, Inc. (NASDAQ:AMSWA) will decrease by about -99.9%, which will see them reach $28.49 million. The company’s full-year revenues are, however, expected to diminish by about -0.12%, down from $115 million to $115 million. AMSWA’s expected adjusted earnings should surge almost 0% to end up at $0.05 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 4.76% to record $0.22/share.