The stock of AutoWeb, Inc. (NASDAQ:AUTO) is now priced at $5.37 and the shares are 0.91 points up or 20.4% higher compared to its previous closing price of $4.46. The stock had 4.037 million contracts set over the past session. AUTO shares’ daily volume is compared to its average trading volume at 0.755 million shares. However, it has a float of 9.82 million and although its performance was 55.65% over the week, it’s one to watch. Analysts have given the AUTO stock a yearly average price target of $5.5 per share. It means the stock’s upside potential is 2.42% with the AUTO share price recently placing at $4.15 to $5.59. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the AutoWeb, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AUTO shares have declined. Short interest in the stock represents just 5.58% of its float, but the volume has dropped by -164059. The volume of shorted shares dropped to 548475 from 712534 shares over the last two weeks. The average intraday trading volume has been 326847 shares, which means that days to cover moved to roughly 1.678079.
In the last trading session, AutoWeb, Inc. (NASDAQ:AUTO) raised by $1.92 over the week and gained $3.72 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.59. The stock recorded its established 52-week high on 08/31/20.
Since 03/25/20, the stock has traded to a low of $0.5 at 974%, 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 2.03. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, AutoWeb, Inc.’s two-week RSI is 79.06. This suggests that the stock is oversold at the moment and that AUTO shares’ price movement remains not stable. The stochastic readings are equally revealing at 90.79% meaning the AUTO share price is currently in oversold territory.
The technical chart shows that the AUTO stock will likely settle at between $5.92 and $6.48 per share. However, if the stock dips below $4.48, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.6.
Currently, the stock is trading in the green of MACD, with a reading of 1.11. 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 Barrington Research raised their recommendation for AUTO from Mkt Perform to Outperform in August 27 review while maintain their target price of $10. Lake Street analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $5 in a flash note released to investors on August 20. B. Riley FBR seeing the improvements upgraded the stock from Neutral to Buy on August 20, placing it at $1.15 to $4.
The average rating for the AUTO equity is 2.75 and is currently gathering a bullish momentum. Of 4 analysts tracking AutoWeb, Inc. polled by Reuters, 0 rated AUTO as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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.
The stocks P/S ratio currently stands below the group’s average of 44.1. AutoWeb, Inc. has its P/E ratio at 4.2, which means that the stock is currently trading at a discount relative to the 6.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for AutoWeb, Inc. (NASDAQ:AUTO) will decrease by about -99.88%, which will see them reach $20.49 million. The company’s full-year revenues are, however, expected to diminish by about -27%, down from $114 million to $83.2 million. AUTO’s expected adjusted earnings should drop almost -23.08% to end up at -$0.1 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -49.57% to record -$0.59/share.