The stock of DHT Holdings, Inc. (NYSE:DHT) is now priced at $5.28 and the shares are 0.19 points up or 3.73% higher compared to its previous closing price of $5.09. The stock had 3.397 million contracts set over the past session. DHT shares’ daily volume is compared to its average trading volume at 3.234 million shares. However, it has a float of 142 million and although its performance was -14.98% over the week, it’s one to watch. Analysts have given the DHT stock a yearly average price target of $7.14 per share. It means the stock’s upside potential is 35.23% with the DHT share price recently placing at $5.075 to $5.28. However, some brokerage firms have priced the stock below the average, including one that has called $4.6.
The shorts are running away from the DHT Holdings, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DHT shares have declined. Short interest in the stock represents just 8.19% of its float, but the volume has dropped by 0.
In the last trading session, DHT Holdings, Inc. (NYSE:DHT) dropped by -$0.93 over the week and lost -$0.4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $8.83. The stock recorded its established 52-week high on 01/03/20.
Since 03/06/20, the stock has traded to a low of $4.77 at 10.69%, 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 -0.22. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, DHT Holdings, Inc.’s two-week RSI is 38.41. This suggests that the stock is neutral at the moment and that DHT shares’ price movement remains stable. The stochastic readings are equally revealing at 8.98% meaning the DHT share price is currently in overbought territory.
The technical chart shows that the DHT stock will likely settle at between $5.35 and $5.42 per share. However, if the stock dips below $5.14, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.01.
Currently, the stock is trading in the red of MACD, with a reading of -0.56. 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 Stifel cut their recommendation for DHT from Buy to Hold in June 18 review while maintai their target price of $8 to $5. DNB Markets analysts upgraded their recommendation of the stock from Hold to Buy in a flash note released to investors on May 28. Evercore ISI seeing the stock struggling downgraded it from Outperform to In-line on May 04.
The average rating for the DHT equity is 1.78 and is currently gathering a bullish momentum. Of 9 analysts tracking DHT Holdings, Inc. polled by Reuters, 2 rated DHT as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) 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 DHT stock price is 7.24X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 3.1 below the group’s average of 40.8. DHT Holdings, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 1.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for DHT Holdings, Inc. (NYSE:DHT) will decrease by about -99.96%, which will see them reach $109 million. The company’s full-year revenues are, however, expected to increase by about 63.35%, up from $348 million to $568 million. DHT’s expected adjusted earnings should drop almost -566.67% to end up at $0.28 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 241.38% to record $1.98/share.