The stock of U.S. Silica Holdings, Inc. (NYSE:SLCA) is now priced at $4.65 and the shares are 0.21 points up or 4.73% higher compared to its previous closing price of $4.44. The stock had 1.229 million contracts set over the past session. SLCA shares’ daily volume is compared to its average trading volume at 1.596 million shares. However, it has a float of 68.51 million and although its performance was 15.1% over the week, it’s one to watch. Analysts have given the SLCA stock a yearly average price target of $3.23 per share. It means the stock’s downside potential is -30.54% with the SLCA share price recently placing at $4.41 to $4.7423. However, some brokerage firms have priced the stock below the average, including one that has called $1.
The shorts are running away from the U.S. Silica Holdings, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SLCA shares have declined. Short interest in the stock represents just 13.59% of its float, but the volume has dropped by 0.
In the last trading session, U.S. Silica Holdings, Inc. (NYSE:SLCA) raised by $0.61 over the week and gained $1.12 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.09. The stock recorded its established 52-week high on 09/16/19.
Since 03/18/20, the stock has traded to a low of $0.79 at 488.61%, 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 2.86. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, U.S. Silica Holdings, Inc.’s two-week RSI is 70.35. This suggests that the stock is oversold at the moment and that SLCA shares’ price movement remains not stable. The stochastic readings are equally revealing at 84.87% meaning the SLCA share price is currently in oversold territory.
The technical chart shows that the SLCA stock will likely settle at between $4.79 and $4.93 per share. However, if the stock dips below $4.46, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.27.
Currently, the stock is trading in the green of MACD, with a reading of 0.17. 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 Evercore ISI raised their recommendation for SLCA from Underperform to In-line in July 06 review while maintain their target price of $3. Barclays analysts upgraded their recommendation of the stock from Underweight to Equal Weight in a flash note released to investors on March 19. Tudor Pickering seeing the stock struggling downgraded it from Buy to Hold on March 11.
The average rating for the SLCA equity is 3.25 and is currently gathering a bearish momentum. Of 9 analysts tracking U.S. Silica Holdings, Inc. polled by Reuters, 4 rated SLCA as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for U.S. Silica Holdings, Inc. (NYSE:SLCA) will decrease by about -99.9%, which will see them reach $175 million. The company’s full-year revenues are, however, expected to diminish by about -46.67%, down from $1470 million to $784 million. SLCA’s expected adjusted earnings should surge almost 105.88% to end up at -$0.35 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 57.81% to record -$1.01/share.