The stock of American Airlines Group Inc. (NASDAQ:AAL) is now priced at $13.05 and the shares are -0.54 points down or -3.97% lower compared to its previous closing price of $13.59. The stock had 45.917 million contracts set over the past session. AAL shares’ daily volume is compared to its average trading volume at 96.646 million shares. However, it has a float of 502 million and although its performance was -2.9% over the week, it’s one to watch. Analysts have given the AAL stock a yearly average price target of $11.56 per share. It means the stock’s downside potential is -11.42% with the AAL share price recently placing at $13.05 to $13.74. However, some brokerage firms have priced the stock below the average, including one that has called $1.
The shorts are running away from the American Airlines Group Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AAL shares have declined. Short interest in the stock represents just 30.04% of its float, but the volume has dropped by -7949784. The volume of shorted shares dropped to 150.875 million from 158.825 million shares over the last two weeks. The average intraday trading volume has been 78.805 million shares, which means that days to cover moved to roughly 1.914546.
In the last trading session, American Airlines Group Inc. (NASDAQ:AAL) dropped by -$0.39 over the week and gained $1.97 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $31.67. The stock recorded its established 52-week high on 10/28/19.
Since 05/14/20, the stock has traded to a low of $8.25 at 58.18%, 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 1.76. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, American Airlines Group Inc.’s two-week RSI is 52.44. This suggests that the stock is neutral at the moment and that AAL shares’ price movement remains stable. The stochastic readings are equally revealing at 44.54% meaning the AAL share price is currently in neutral territory.
The technical chart shows that the AAL stock will likely settle at between $13.51 and $13.97 per share. However, if the stock dips below $12.82, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.59.
Currently, the stock is trading in the green of MACD, with a reading of 0.35. 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 Raymond James raised their recommendation for AAL from Underperform to Mkt Perform in July 27 review. Cowen analysts see the stock as a Outperform, but they also raised the share’s target price from $15 to $20 in a flash note released to investors on June 17. Seaport Global Securities analysts see the stock as Buy when the analysts initiated the share price coverage on June 17, placing it at $27.
The average rating for the AAL equity is 3.28 and is currently gathering a bearish momentum. Of 19 analysts tracking American Airlines Group Inc. polled by Reuters, 7 rated AAL as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 8 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 American Airlines Group Inc. (NASDAQ:AAL) will increase by about 74.48%, which will see them reach $2830 million. The company’s full-year revenues are, however, expected to diminish by about -61.85%, down from $45800 million to $17500 million. AAL’s expected adjusted earnings should drop almost -511.97% to end up at -$5.85 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -491.43% to record -$19.18/share.