The stock of Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) is now priced at $15.19 and the shares are -0.26 points down or -1.68% lower compared to its previous closing price of $15.45. The stock had 1.885 million contracts set over the past session. SPWH shares’ daily volume is compared to its average trading volume at 0.971 million shares. However, it has a float of 42.09 million and although its performance was -11.53% over the week, it’s one to watch. Analysts have given the SPWH stock a yearly average price target of $15.7 per share. It means the stock’s upside potential is 3.36% with the SPWH share price recently placing at $15.13 to $16.0331. However, some brokerage firms have priced the stock below the average, including one that has called $13.
The shorts are climbing into the Sportsman’s Warehouse Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SPWH shares have risen. Short interest in the stock represents just 8.17% of its float, but the volume has raised by 50724. The volume of shorted shares rised to 3.437 million from 3.387 million shares over the last two weeks. The average intraday trading volume has been 639232 shares, which means that days to cover moved to roughly 5.377179.
In the last trading session, Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) dropped by -$1.98 over the week and lost -$0.9 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.03. The stock recorded its established 52-week high on 08/19/20.
Since 08/29/19, the stock has traded to a low of $3.96 at 315.03%, 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 0.82. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sportsman’s Warehouse Holdings, Inc.’s two-week RSI is 41.99. This suggests that the stock is neutral at the moment and that SPWH shares’ price movement remains stable. The stochastic readings are equally revealing at 20.49% meaning the SPWH share price is currently in overbought territory.
The technical chart shows that the SPWH stock will likely settle at between $15.77 and $16.35 per share. However, if the stock dips below $14.87, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $14.55.
Currently, the stock is trading in the red of MACD, with a reading of -0.7. 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 Lake Street though raised target price of SPWH stock from $15 to $18 but maintained Buy recommendation in their July 07 review. Lake Street analysts see the stock as a Buy with a target price of $10.5 in a flash note released to investors on January 06 initiating covering the stock. Craig Hallum analysts see the stock as Buy when the analysts initiated the share price coverage on December 12, placing it at $12.
The average rating for the SPWH equity is 2 and is currently gathering a bullish momentum. Of 6 analysts tracking Sportsman’s Warehouse Holdings, Inc. polled by Reuters, 1 rated SPWH as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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 SPWH stock price is 17.68X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) will decrease by about -99.88%, which will see them reach $286 million. The company’s full-year revenues are, however, expected to increase by about 24.1%, up from $886 million to $1100 million. SPWH’s expected adjusted earnings should surge almost 123.08% to end up at $0.29 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 87.23% to record $0.88/share.