The stock of CBL & Associates Properties, Inc. (NYSE:CBL) is now priced at $0.19 and the shares are 0 points down or -1.59% lower compared to its previous closing price of $0.19. The stock had 5.516 million contracts set over the past session. CBL shares’ daily volume is compared to its average trading volume at 19.185 million shares. However, it has a float of 158 million and although its performance was -6.86% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CBL share price recently placing at $0.1825 to $0.19. However, some brokerage firms have priced the stock below the average, including one that has called $0.15.
The shorts are running away from the CBL & Associates Properties, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CBL shares have declined. Short interest in the stock represents just 10.69% of its float, but the volume has dropped by 0.
In the last trading session, CBL & Associates Properties, Inc. (NYSE:CBL) dropped by -$0.0137 over the week and gained $0.0172 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.78. The stock recorded its established 52-week high on 11/06/19.
Since 08/03/20, the stock has traded to a low of $0.1401 at 32.76%, 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 2.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, CBL & Associates Properties, Inc.’s two-week RSI is 44.11. This suggests that the stock is neutral at the moment and that CBL shares’ price movement remains stable. The stochastic readings are equally revealing at 4.16% meaning the CBL share price is currently in overbought territory.
The technical chart shows that the CBL stock will likely settle at between $0.1898 and $0.1937 per share. However, if the stock dips below $0.1823, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.1787.
Currently, the stock is trading in the red of MACD, with a reading of -0.011. 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 BTIG Research raised their recommendation for CBL from Sell to Neutral in May 31 review. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight in a flash note released to investors on December 19. Jefferies seeing the stock struggling downgraded it from Hold to Underperform on December 21.
The average rating for the CBL equity is 4.17 and is currently gathering a bearish momentum. Of 4 analysts tracking CBL & Associates Properties, Inc. polled by Reuters, 0 rated CBL as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 4 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 19.9. CBL & Associates Properties, Inc. has its P/E ratio at 0.1, which means that the stock is currently trading at a discount relative to the 1.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for CBL & Associates Properties, Inc. (NYSE:CBL) will decrease by about -99.88%, which will see them reach $152 million. The company’s full-year revenues are, however, expected to diminish by about -17.76%, down from $768 million to $632 million. CBL’s expected adjusted earnings should drop almost -26.92% to end up at -$0.19 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 81.08% to record -$1.34/share.