The stock of Tellurian Inc. (NASDAQ:TELL) is now priced at $0.92 and the shares are 0.03 points up or 3.93% higher compared to its previous closing price of $0.89. The stock had 4.655 million contracts set over the past session. TELL shares’ daily volume is compared to its average trading volume at 7.373 million shares. However, it has a float of 178 million and although its performance was 2.72% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TELL share price recently placing at $0.89 to $0.9389. However, some brokerage firms have priced the stock below the average, including one that has called $0.1.
The shorts are running away from the Tellurian Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TELL shares have declined. Short interest in the stock represents just 16.42% of its float, but the volume has dropped by -1252516. The volume of shorted shares dropped to 29.253 million from 30.505 million shares over the last two weeks. The average intraday trading volume has been 5.333 million shares, which means that days to cover moved to roughly 5.484784.
In the last trading session, Tellurian Inc. (NASDAQ:TELL) raised by $0.0244 over the week and gained $0.0306 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.06. The stock recorded its established 52-week high on 09/23/19.
Since 03/18/20, the stock has traded to a low of $0.6664 at 38.42%, 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 2.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Tellurian Inc.’s two-week RSI is 45.08. This suggests that the stock is neutral at the moment and that TELL shares’ price movement remains stable. The stochastic readings are equally revealing at 20.91% meaning the TELL share price is currently in overbought territory.
The technical chart shows that the TELL stock will likely settle at between $0.9442 and $0.966 per share. However, if the stock dips below $0.8953, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.8682.
Currently, the stock is trading in the red of MACD, with a reading of -0.0028. 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 Maxim Group assigned TELL a rating of Buy in their intiating review released on June 10. Stifel analysts downgraded their recommendation of the stock from Hold to Sell in a flash note released to investors on June 02. Evercore ISI seeing the stock struggling downgraded it from Outperform to In-line on April 21 placing it at $6 to $2.
The average rating for the TELL equity is 2.83 and is currently gathering a bullish momentum. Of 13 analysts tracking Tellurian Inc. polled by Reuters, 8 rated TELL as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Tellurian Inc. (NASDAQ:TELL) will decrease by about -99.77%, which will see them reach $14.52 million. The company’s full-year revenues are, however, expected to increase by about 131.91%, up from $28.77 million to $66.72 million. TELL’s expected adjusted earnings should drop almost -44.44% to end up at -$0.1 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -36.23% to record -$0.44/share.