The stock of The Children’s Place, Inc. (NASDAQ:PLCE) is now priced at $21.23 and the shares are 0.45 points up or 2.17% higher compared to its previous closing price of $20.78. The stock had 1.673 million contracts set over the past session. PLCE shares’ daily volume is compared to its average trading volume at 1.203 million shares. However, it has a float of 13.78 million and although its performance was -2.48% over the week, it’s one to watch. Analysts have given the PLCE stock a yearly average price target of $24.2 per share. It means the stock’s upside potential is 13.99% with the PLCE share price recently placing at $20.5 to $21.43. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are climbing into the The Children’s Place, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the PLCE shares have risen. Short interest in the stock represents just 42.91% of its float, but the volume has raised by 328051. The volume of shorted shares rised to 5.912 million from 5.584 million shares over the last two weeks. The average intraday trading volume has been 707166 shares, which means that days to cover moved to roughly 8.359652.
In the last trading session, The Children’s Place, Inc. (NASDAQ:PLCE) dropped by -$0.54 over the week and lost -$3.18 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $95.53. The stock recorded its established 52-week high on 09/13/19.
Since 03/18/20, the stock has traded to a low of $9.25 at 129.51%, 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 1.87. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Children’s Place, Inc.’s two-week RSI is 35.9. This suggests that the stock is neutral at the moment and that PLCE shares’ price movement remains stable. The stochastic readings are equally revealing at 21.2% meaning the PLCE share price is currently in overbought territory.
The technical chart shows that the PLCE stock will likely settle at between $21.61 and $21.98 per share. However, if the stock dips below $20.68, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $20.12.
Currently, the stock is trading in the red of MACD, with a reading of -1.3. 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 Telsey Advisory Group though dropped target price of PLCE stock from $55 to $35 but maintained Outperform recommendation in their August 26 review. Monness Crespi & Hardt analysts see the stock as a Buy, but they also dropped the share’s target price from $55 to $35 in a flash note released to investors on August 26. UBS analysts see the stock as Neutral when the analysts initiated the share price coverage on August 12, placing it at $26.
The average rating for the PLCE equity is 2.67 and is currently gathering a bullish momentum. Of 10 analysts tracking The Children’s Place, Inc. polled by Reuters, 6 rated PLCE 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 PLCE stock price is 8.45X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 274.2. The Children’s Place, Inc. has its P/E ratio at 5, which means that the stock is currently trading at a discount relative to the 8.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Children’s Place, Inc. (NASDAQ:PLCE) will decrease by about -99.9%, which will see them reach $386 million. The company’s full-year revenues are, however, expected to diminish by about -23.53%, down from $1870 million to $1430 million. PLCE’s expected adjusted earnings should drop almost -78.88% to end up at $0.64 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -143.47% to record -$2.33/share.