The stock of Waitr Holdings Inc. (NASDAQ:WTRH) is now priced at $4.14 and the shares are -0.04 points down or -0.96% lower compared to its previous closing price of $4.18. The stock had 2.191 million contracts set over the past session. WTRH shares’ daily volume is compared to its average trading volume at 5.31 million shares. However, it has a float of 88.45 million and although its performance was -13.75% over the week, it’s one to watch. Analysts have given the WTRH stock a yearly average price target of $5.95 per share. It means the stock’s upside potential is 43.72% with the WTRH share price recently placing at $4.07 to $4.28. However, some brokerage firms have priced the stock below the average, including one that has called $3.8.
The shorts are running away from the Waitr Holdings Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the WTRH shares have declined. Short interest in the stock represents just 10.8% of its float, but the volume has dropped by -1049654. The volume of shorted shares dropped to 9.549 million from 10.599 million shares over the last two weeks. The average intraday trading volume has been 4.726 million shares, which means that days to cover moved to roughly 2.020557.
In the last trading session, Waitr Holdings Inc. (NASDAQ:WTRH) dropped by -$0.66 over the week and lost -$1.2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.85. The stock recorded its established 52-week high on 08/06/20.
Since 11/14/19, the stock has traded to a low of $0.21 at 1848.24%, 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 -2.63. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Waitr Holdings Inc.’s two-week RSI is 44.6. This suggests that the stock is neutral at the moment and that WTRH shares’ price movement remains stable. The stochastic readings are equally revealing at 17.93% meaning the WTRH share price is currently in overbought territory.
The technical chart shows that the WTRH stock will likely settle at between $4.26 and $4.37 per share. However, if the stock dips below $4.05, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.95.
Currently, the stock is trading in the red of MACD, with a reading of -0.36. 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 WTRH a rating of Buy in their intiating review released on July 22. Deutsche Bank analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on July 09. Craig Hallum seeing the improvements upgraded the stock from Hold to Buy on April 17, placing it at $1 to $2.
The average rating for the WTRH equity is 2 and is currently gathering a bullish momentum. Of 4 analysts tracking Waitr Holdings Inc. polled by Reuters, 1 rated WTRH as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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 WTRH stock price is 20.39X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Waitr Holdings Inc. (NASDAQ:WTRH) will decrease by about -99.91%, which will see them reach $56.65 million. The company’s full-year revenues are, however, expected to increase by about 12.55%, up from $192 million to $216 million. WTRH’s expected adjusted earnings should drop almost -101.73% to end up at $0.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -105% to record $0.2/share.