The stock of Apex Global Brands Inc. (NASDAQ:APEX) is now priced at $0.8 and the shares are 0.08 points up or 11.11% higher compared to its previous closing price of $0.72. The stock had 3.805 million contracts set over the past session. APEX shares’ daily volume is compared to its average trading volume at 1.364 million shares. However, it has a float of 4.5 million and although its performance was 9.36% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the APEX share price recently placing at $0.677 to $0.81. However, some brokerage firms have priced the stock below the average, including one that has called $5.25.
The shorts are climbing into the Apex Global Brands Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the APEX shares have risen. Short interest in the stock represents just 4.96% of its float, but the volume has raised by 79497. The volume of shorted shares rised to 223245 from 143748 shares over the last two weeks. The average intraday trading volume has been 379895 shares, which means that days to cover moved to roughly 1.
In the last trading session, Apex Global Brands Inc. (NASDAQ:APEX) raised by $0.0685 over the week and gained $0.1298 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.37. The stock recorded its established 52-week high on 09/17/19.
Since 03/19/20, the stock has traded to a low of $0.26 at 207.69%, 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 1.6. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Apex Global Brands Inc.’s two-week RSI is 64.74. This suggests that the stock is neutral at the moment and that APEX shares’ price movement remains stable. The stochastic readings are equally revealing at 72.28% meaning the APEX share price is currently in oversold territory.
The technical chart shows that the APEX stock will likely settle at between $0.8477 and $0.8953 per share. However, if the stock dips below $0.7147, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.6293.
Currently, the stock is trading in the green of MACD, with a reading of 0.021. 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.
The stocks P/S ratio currently stands below the group’s average of 274.2. Apex Global Brands Inc. has its P/E ratio at 1.2, which means that the stock is currently trading at a discount relative to the 8.8 industry average.