The stock of Genesis Energy, L.P. (NYSE:GEL) is now priced at $5.53 and the shares are 0.21 points up or 3.95% higher compared to its previous closing price of $5.32. The stock had 2.061 million contracts set over the past session. GEL shares’ daily volume is compared to its average trading volume at 1.268 million shares. However, it has a float of 106 million and although its performance was 2.22% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the GEL share price recently placing at $5.23 to $5.58. However, some brokerage firms have priced the stock below the average, including one that has called $7.
The shorts are running away from the Genesis Energy, L.P. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GEL shares have declined. Short interest in the stock represents just 2.34% of its float, but the volume has dropped by 0.
In the last trading session, Genesis Energy, L.P. (NYSE:GEL) raised by $0.12 over the week and lost -$1.14 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.65. The stock recorded its established 52-week high on 09/18/19.
Since 03/18/20, the stock has traded to a low of $2.58 at 114.34%, 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 2.48. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Genesis Energy, L.P.’s two-week RSI is 38.51. This suggests that the stock is neutral at the moment and that GEL shares’ price movement remains stable. The stochastic readings are equally revealing at 15.22% meaning the GEL share price is currently in overbought territory.
The technical chart shows that the GEL stock will likely settle at between $5.66 and $5.8 per share. However, if the stock dips below $5.31, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.1.
Currently, the stock is trading in the red of MACD, with a reading of -0.19. 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 UBS raised their recommendation for GEL from Neutral to Buy in March 16 review while maintain their target price of $15 to $8. UBS analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $21 to $15 in a flash note released to investors on February 20. Wells Fargo seeing the stock struggling downgraded it from Equal Weight to Underweight on January 07 placing it at $21.
The average rating for the GEL equity is 2.57 and is currently gathering a bullish momentum. Of 7 analysts tracking Genesis Energy, L.P. polled by Reuters, 3 rated GEL as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GEL stock price is 17.23X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 40.8. Genesis Energy, L.P. has its P/E ratio at 0.4, 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 Genesis Energy, L.P. (NYSE:GEL) will decrease by about -99.9%, which will see them reach $389 million. The company’s full-year revenues are, however, expected to diminish by about -30.65%, down from $2480 million to $1720 million. GEL’s expected adjusted earnings should surge almost 100% to end up at -$0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -1277.78% to record -$2.12/share.