The stock of AMC Entertainment Holdings, Inc. (NYSE:AMC) is now priced at $5.88 and the shares are -0.42 points down or -6.67% lower compared to its previous closing price of $6.3. The stock had 9.749 million contracts set over the past session. AMC shares’ daily volume is compared to its average trading volume at 6.855 million shares. However, it has a float of 56.34 million and although its performance was 8.69% over the week, it’s one to watch. Analysts have given the AMC stock a yearly average price target of $3.5 per share. It means the stock’s downside potential is -40.48% with the AMC share price recently placing at $5.76 to $6.45. However, some brokerage firms have priced the stock below the average, including one that has called $1.
The shorts are running away from the AMC Entertainment Holdings, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AMC shares have declined. Short interest in the stock represents just 30.09% of its float, but the volume has dropped by 0.
In the last trading session, AMC Entertainment Holdings, Inc. (NYSE:AMC) raised by $0.47 over the week and gained $1.77 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.13. The stock recorded its established 52-week high on 09/16/19.
Since 04/13/20, the stock has traded to a low of $1.95 at 201.54%, 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 1.96. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, AMC Entertainment Holdings, Inc.’s two-week RSI is 60.44. This suggests that the stock is neutral at the moment and that AMC shares’ price movement remains stable. The stochastic readings are equally revealing at 66.54% meaning the AMC share price is currently in neutral territory.
The technical chart shows that the AMC stock will likely settle at between $6.3 and $6.72 per share. However, if the stock dips below $5.61, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.34.
Currently, the stock is trading in the green of MACD, with a reading of 0.51. 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 Wedbush though raised target price of AMC stock from $4 to $7 but maintained Neutral recommendation in their August 31 review. Credit Suisse analysts downgraded their recommendation of the stock from Neutral to Underperform while keeping its target price at $4 to $2 in a flash note released to investors on June 29. MKM Partners seeing the improvements upgraded the stock from Sell to Neutral on May 27, placing it at $5.
The average rating for the AMC equity is 3.42 and is currently gathering a bearish momentum. Of 10 analysts tracking AMC Entertainment Holdings, Inc. polled by Reuters, 7 rated AMC as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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.
The stocks P/S ratio currently stands below the group’s average of 35.8. AMC Entertainment Holdings, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 3.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for AMC Entertainment Holdings, Inc. (NYSE:AMC) will increase by about 1077.11%, which will see them reach $224 million. The company’s full-year revenues are, however, expected to diminish by about -65.08%, down from $5470 million to $1910 million. AMC’s expected adjusted earnings should surge almost 650.94% to end up at -$3.98 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 2150% to record -$32.4/share.