The stock of Delek US Holdings, Inc. (NYSE:DK) is now priced at $17.38 and the shares are 0.95 points up or 5.78% higher compared to its previous closing price of $16.43. The stock had 1.174 million contracts set over the past session. DK shares’ daily volume is compared to its average trading volume at 1.419 million shares. However, it has a float of 71.79 million and although its performance was 10.91% over the week, it’s one to watch. Analysts have given the DK stock a yearly average price target of $19.75 per share. It means the stock’s upside potential is 13.64% with the DK share price recently placing at $16.46 to $17.38. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are running away from the Delek US Holdings, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DK shares have declined. Short interest in the stock represents just 9.24% of its float, but the volume has dropped by 0.
In the last trading session, Delek US Holdings, Inc. (NYSE:DK) raised by $1.71 over the week and lost -$0.1 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $40.9. The stock recorded its established 52-week high on 11/04/19.
Since 03/12/20, the stock has traded to a low of $7.79 at 123.11%, 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 1.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Delek US Holdings, Inc.’s two-week RSI is 55.51. This suggests that the stock is neutral at the moment and that DK shares’ price movement remains stable. The stochastic readings are equally revealing at 82.45% meaning the DK share price is currently in oversold territory.
The technical chart shows that the DK stock will likely settle at between $17.69 and $17.99 per share. However, if the stock dips below $16.77, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $16.15.
Currently, the stock is trading in the green of MACD, with a reading of 0.26. 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 Scotiabank cut their recommendation for DK from Sector Perform to Sector Underperform in August 06 review while maintai their target price of $14. Tudor Pickering analysts upgraded their recommendation of the stock from Sell to Hold while keeping its target price at $17 in a flash note released to investors on July 09. Goldman seeing the improvements upgraded the stock from Sell to Neutral on May 20, placing it at $21 to $22.
The average rating for the DK equity is 2.82 and is currently gathering a bullish momentum. Of 17 analysts tracking Delek US Holdings, Inc. polled by Reuters, 10 rated DK as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Delek US Holdings, Inc. (NYSE:DK) will decrease by about -8.2%, which will see them reach $1410 million. The company’s full-year revenues are, however, expected to diminish by about -33.66%, down from $9300 million to $6170 million. DK’s expected adjusted earnings should drop almost -175.64% to end up at -$0.59 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -192.42% to record -$3.05/share.