The stock of Banco BBVA Argentina S.A. (NYSE:BBAR) is now priced at $3.5 and the shares are 0.28 points up or 8.7% higher compared to its previous closing price of $3.22. The stock had 1.171 million contracts set over the past session. BBAR shares’ daily volume is compared to its average trading volume at 880920 shares. However, it has a float of 69.23 million and although its performance was 5.42% over the week, it’s one to watch. Analysts have given the BBAR stock a yearly average price target of $3.8 per share. It means the stock’s upside potential is 8.57% with the BBAR share price recently placing at $3.24 to $3.535. However, some brokerage firms have priced the stock below the average, including one that has called $2.7.
The shorts are running away from the Banco BBVA Argentina S.A. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BBAR shares have declined. Short interest in the stock represents just 1.11% of its float, but the volume has dropped by 0.
In the last trading session, Banco BBVA Argentina S.A. (NYSE:BBAR) raised by $0.18 over the week and lost -$0.64 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.31. The stock recorded its established 52-week high on 12/26/19.
Since 04/27/20, the stock has traded to a low of $2.1 at 66.67%, 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 1.19. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Banco BBVA Argentina S.A.’s two-week RSI is 44.26. This suggests that the stock is neutral at the moment and that BBAR shares’ price movement remains stable. The stochastic readings are equally revealing at 16.84% meaning the BBAR share price is currently in overbought territory.
The technical chart shows that the BBAR stock will likely settle at between $3.61 and $3.72 per share. However, if the stock dips below $3.32, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.13.
Analysts at HSBC Securities cut their recommendation for BBAR from Hold to Reduce in July 21 review.
The average rating for the BBAR equity is 3 and is currently gathering a bullish momentum. Of 5 analysts tracking Banco BBVA Argentina S.A. polled by Reuters, 1 rated BBAR as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BBAR stock price is 3.71X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 3.7 below the group’s average of 14.7. Banco BBVA Argentina S.A. has its P/E ratio at 0.6, which means that the stock is currently trading at a discount relative to the 0.9 industry average.