The stock of Matador Resources Company (NYSE:MTDR) is now priced at $9.98 and the shares are 0.08 points up or 0.81% higher compared to its previous closing price of $9.9. The stock had 1.923 million contracts set over the past session. MTDR shares’ daily volume is compared to its average trading volume at 4.035 million shares. However, it has a float of 110 million and although its performance was 10.28% over the week, it’s one to watch. Analysts have given the MTDR stock a yearly average price target of $11.92 per share. It means the stock’s upside potential is 19.44% with the MTDR share price recently placing at $9.7 to $10.03.

The shorts are running away from the Matador Resources Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the MTDR shares have declined. Short interest in the stock represents just 20.52% of its float, but the volume has dropped by 0.

In the last trading session, Matador Resources Company (NYSE:MTDR) raised by $0.93 over the week and gained $1.3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.83. The stock recorded its established 52-week high on 01/06/20.

Since 03/18/20, the stock has traded to a low of $1.11 at 799.1%, 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 4.83. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Matador Resources Company’s two-week RSI is 57.01. This suggests that the stock is neutral at the moment and that MTDR shares’ price movement remains stable. The stochastic readings are equally revealing at 61.51% meaning the MTDR share price is currently in neutral territory.

The technical chart shows that the MTDR stock will likely settle at between $10.11 and $10.23 per share. However, if the stock dips below $9.78, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.57.

Currently, the stock is trading in the green of MACD, with a reading of 0.11. 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 JP Morgan cut their recommendation for MTDR from Overweight to Neutral in July 23 review. Cowen analysts upgraded their recommendation of the stock from Market Perform to Outperform while keeping its target price at $12.75 in a flash note released to investors on July 22. Stifel seeing the improvements upgraded the stock from Hold to Buy on July 20, placing it at $8 to $12.

The average rating for the MTDR equity is 2.67 and is currently gathering a bullish momentum. Of 16 analysts tracking Matador Resources Company polled by Reuters, 9 rated MTDR 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 MTDR stock price is 17.85X ahead of its 12-month Consensus earnings per share estimates.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Matador Resources Company (NYSE:MTDR) will decrease by about -99.88%, which will see them reach $187 million. The company’s full-year revenues are, however, expected to diminish by about -4.64%, down from $892 million to $851 million. MTDR’s expected adjusted earnings should drop almost -118.75% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -89.17% to record $0.13/share.