The stock of Lloyds Banking Group plc (NYSE:LYG) is now priced at $1.47 and the shares are 0.05 points up or 3.52% higher compared to its previous closing price of $1.42. LYG shares have a float of 17300 million and although its performance was 3.52% over the week, it’s one to watch. Analysts have given the LYG stock a yearly average price target of $1.31 per share. It means the stock’s downside potential is -10.88% with the LYG share price recently placing at $1.45 to $1.49. However, some brokerage firms have priced the stock below the average, including one that has called $1.31.
The shorts are running away from the Lloyds Banking Group plc stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the LYG shares have declined. Short interest in the stock represents just 0.02% of its float, but the volume has dropped by 0.
In the last trading session, Lloyds Banking Group plc (NYSE:LYG) raised by $0.05 over the week and gained $0.15 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.58. The stock recorded its established 52-week high on 12/16/19.
Since 05/14/20, the stock has traded to a low of $1.27 at 15.75%, 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 1.25. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Lloyds Banking Group plc’s two-week RSI is 53.74. This suggests that the stock is neutral at the moment and that LYG shares’ price movement remains stable. The stochastic readings are equally revealing at 35.5% meaning the LYG share price is currently in neutral territory.
The technical chart shows that the LYG stock will likely settle at between $1.49 and $1.51 per share. However, if the stock dips below $1.45, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.43.
Currently, the stock is trading in the green of MACD, with a reading of 0.0033. 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 Credit Suisse raised their recommendation for LYG from Neutral to Outperform in July 23 review. Investec analysts upgraded their recommendation of the stock from Hold to Buy in a flash note released to investors on July 02. Keefe Bruyette seeing the improvements upgraded the stock from Mkt Perform to Outperform on April 01.
The average rating for the LYG equity is 4 and is currently gathering a bearish momentum. Of 1 analysts tracking Lloyds Banking Group plc polled by Reuters, 0 rated LYG as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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 LYG stock price is 13.36X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 69.5 above the group’s average of 14.7. Lloyds Banking Group plc has its P/E ratio at 0.4, which means that the stock is currently trading at a discount relative to the 0.9 industry average.