The stock of Eros International Plc (NYSE:EROS) is now priced at $3.16 and the shares are 0.26 points up or 8.97% higher compared to its previous closing price of $2.9. The stock had 6.359 million contracts set over the past session. EROS shares’ daily volume is compared to its average trading volume at 3.96 million shares. However, it has a float of 133 million and although its performance was 23.44% over the week, it’s one to watch. Analysts have given the EROS stock a yearly average price target of $4.5 per share. It means the stock’s upside potential is 42.41% with the EROS share price recently placing at $2.88 to $3.31. However, some brokerage firms have priced the stock below the average, including one that has called $4.5.
The shorts are running away from the Eros International Plc stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EROS shares have declined. Short interest in the stock represents just 9.48% of its float, but the volume has dropped by 0.
In the last trading session, Eros International Plc (NYSE:EROS) raised by $0.6 over the week and gained $0.32 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.91. The stock recorded its established 52-week high on 01/17/20.
Since 03/12/20, the stock has traded to a low of $1.1 at 187.27%, 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 1.06. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Eros International Plc’s two-week RSI is 59.96. This suggests that the stock is neutral at the moment and that EROS shares’ price movement remains stable. The stochastic readings are equally revealing at 82% meaning the EROS share price is currently in oversold territory.
The technical chart shows that the EROS stock will likely settle at between $3.35 and $3.55 per share. However, if the stock dips below $2.92, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.69.
Currently, the stock is trading in the green of MACD, with a reading of 0.16. 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 Maxim Group assigned EROS a rating of Buy in their intiating review released on August 14. Wells Fargo analysts upgraded their recommendation of the stock from Market Perform to Outperform in a flash note released to investors on December 09. BofA/Merrill seeing the stock struggling downgraded it from Buy to Neutral on November 24.
The average rating for the EROS equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Eros International Plc polled by Reuters, 0 rated EROS as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 EROS stock price is 15.19X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 35.9. Eros International Plc has its P/E ratio at 2.2, which means that the stock is currently trading at a discount relative to the 3.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Eros International Plc (NYSE:EROS) will decrease by about -99.89%, which will see them reach $30.46 million. The company’s full-year revenues are, however, expected to increase by about 23.54%, up from $155 million to $192 million. EROS’s expected adjusted earnings should drop almost -250% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -101.03% to record $0.04/share.