The stock of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is now priced at $97.12 and the shares are -9.87 points down or -9.23% lower compared to its previous closing price of $106.99. The stock had 3.253 million contracts set over the past session. OLLI shares’ daily volume is compared to its average trading volume at 1.333 million shares. However, it has a float of 48.61 million and although its performance was -11.14% over the week, it’s one to watch. Analysts have given the OLLI stock a yearly average price target of $112.43 per share. It means the stock’s upside potential is 15.76% with the OLLI share price recently placing at $96.61 to $104.77. However, some brokerage firms have priced the stock below the average, including one that has called $85.
The shorts are climbing into the Ollie’s Bargain Outlet Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the OLLI shares have risen. Short interest in the stock represents just 19% of its float, but the volume has raised by 112576. The volume of shorted shares rised to 9.237 million from 9.124 million shares over the last two weeks. The average intraday trading volume has been 839261 shares, which means that days to cover moved to roughly 11.005693.
In the last trading session, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) dropped by -$12.18 over the week and lost -$7.98 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $112.58. The stock recorded its established 52-week high on 08/26/20.
Since 03/18/20, the stock has traded to a low of $28.83 at 236.87%, 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 1.27. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Ollie’s Bargain Outlet Holdings, Inc.’s two-week RSI is 39.97. This suggests that the stock is neutral at the moment and that OLLI shares’ price movement remains stable. The stochastic readings are equally revealing at 46.99% meaning the OLLI share price is currently in neutral territory.
The technical chart shows that the OLLI stock will likely settle at between $102.39 and $107.66 per share. However, if the stock dips below $94.23, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $91.34.
Currently, the stock is trading in the red of MACD, with a reading of -1.09. 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 Citigroup cut their recommendation for OLLI from Neutral to Sell in July 22 review while maintai their target price of $91. Craig Hallum analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $104 in a flash note released to investors on May 26. Credit Suisse seeing the stock struggling downgraded it from Outperform to Neutral on May 26 placing it at $55 to $990.
The average rating for the OLLI equity is 2.13 and is currently gathering a bullish momentum. Of 14 analysts tracking Ollie’s Bargain Outlet Holdings, Inc. polled by Reuters, 3 rated OLLI as a hold. The remaining 11 analysts were split evenly. However, the split wasn’t equal as a majority (10) 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 OLLI stock price is 32.55X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 30.4 above the group’s average of 28.6. Ollie’s Bargain Outlet Holdings, Inc. has its P/E ratio at 5.2, which means that the stock is currently trading at a discount relative to the 6.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) will decrease by about -99.92%, which will see them reach $399 million. The company’s full-year revenues are, however, expected to increase by about 24.82%, up from $1410 million to $1760 million. OLLI’s expected adjusted earnings should surge almost 34.15% to end up at $0.55 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 50% to record $2.94/share.