The stock of Everi Holdings Inc. (NYSE:EVRI) is now priced at $8.28 and the shares are 0.21 points up or 2.6% higher compared to its previous closing price of $8.07. The stock had 2.982 million contracts set over the past session. EVRI shares’ daily volume is compared to its average trading volume at 3.848 million shares. However, it has a float of 84.33 million and although its performance was 11.89% over the week, it’s one to watch. Analysts have given the EVRI stock a yearly average price target of $11.43 per share. It means the stock’s upside potential is 38.04% with the EVRI share price recently placing at $7.96 to $8.38. However, some brokerage firms have priced the stock below the average, including one that has called $10.
The shorts are running away from the Everi Holdings Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EVRI shares have declined. Short interest in the stock represents just 7.33% of its float, but the volume has dropped by 0.
In the last trading session, Everi Holdings Inc. (NYSE:EVRI) raised by $0.88 over the week and gained $2.6 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.88. The stock recorded its established 52-week high on 02/20/20.
Since 03/18/20, the stock has traded to a low of $1.55 at 434.19%, 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 2.99. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Everi Holdings Inc.’s two-week RSI is 73.65. This suggests that the stock is oversold at the moment and that EVRI shares’ price movement remains not stable. The stochastic readings are equally revealing at 79.8% meaning the EVRI share price is currently in oversold territory.
The technical chart shows that the EVRI stock will likely settle at between $8.45 and $8.63 per share. However, if the stock dips below $8.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.79.
Currently, the stock is trading in the green of MACD, with a reading of 0.35. 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 EVRI a rating of Buy in their intiating review released on July 10. Macquarie analysts see the stock as a Outperform with a target price of $12 in a flash note released to investors on September 26 initiating covering the stock. SunTrust analysts see the stock as Buy when the analysts initiated the share price coverage on February 11, placing it at $9.
The average rating for the EVRI equity is 1.57 and is currently gathering a bullish momentum. Of 7 analysts tracking Everi Holdings Inc. polled by Reuters, 0 rated EVRI 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 EVRI stock price is 552X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Everi Holdings Inc. (NYSE:EVRI) will decrease by about -99.78%, which will see them reach $87.93 million. The company’s full-year revenues are, however, expected to diminish by about -34.83%, down from $533 million to $348 million. EVRI’s expected adjusted earnings should drop almost -300% to end up at -$0.24 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -709.52% to record -$1.28/share.