The stock of HighPoint Resources Corporation (NYSE:HPR) is now priced at $0.31 and the shares are -0.03 points down or -6.03% lower compared to its previous closing price of $0.34. The stock had 4.961 million contracts set over the past session. HPR shares’ daily volume is compared to its average trading volume at 5.759 million shares. However, it has a float of 111 million and although its performance was -7.57% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the HPR share price recently placing at $0.3051 to $0.345. However, some brokerage firms have priced the stock below the average, including one that has called $0.25.
The shorts are running away from the HighPoint Resources Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the HPR shares have declined. Short interest in the stock represents just 9.47% of its float, but the volume has dropped by 0.
In the last trading session, HighPoint Resources Corporation (NYSE:HPR) dropped by -$0.0258 over the week and lost -$0.0466 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.98. The stock recorded its established 52-week high on 01/06/20.
Since 03/10/20, the stock has traded to a low of $0.155 at 103.1%, 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 4.31. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, HighPoint Resources Corporation’s two-week RSI is 39.17. This suggests that the stock is neutral at the moment and that HPR shares’ price movement remains stable. The stochastic readings are equally revealing at 4.54% meaning the HPR share price is currently in overbought territory.
The technical chart shows that the HPR stock will likely settle at between $0.3382 and $0.3615 per share. However, if the stock dips below $0.2983, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.2817.
Currently, the stock is trading in the red of MACD, with a reading of -0.0172. 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 SunTrust cut their recommendation for HPR from Buy to Hold in March 09 review. Imperial Capital analysts downgraded their recommendation of the stock from Outperform to In-line while keeping its target price at $3 to $1.50 in a flash note released to investors on February 28. Seaport Global Securities seeing the stock struggling downgraded it from Buy to Neutral on October 10.
The average rating for the HPR equity is 2.6 and is currently gathering a bullish momentum. Of 3 analysts tracking HighPoint Resources Corporation polled by Reuters, 2 rated HPR 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for HighPoint Resources Corporation (NYSE:HPR) will decrease by about -99.84%, which will see them reach $69.65 million. The company’s full-year revenues are, however, expected to diminish by about -49.62%, down from $453 million to $228 million. HPR’s expected adjusted earnings should drop almost -150% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -100% to record $0/share.