The stock of Citigroup Inc. (NYSE:C) is now priced at $51.12 and the shares are -1.16 points down or -2.22% lower compared to its previous closing price of $52.28. The stock had 15.496 million contracts set over the past session. C shares’ daily volume is compared to its average trading volume at 24.012 million shares. However, it has a float of 2080 million and although its performance was 0.12% over the week, it’s one to watch. Analysts have given the C stock a yearly average price target of $69.21 per share. It means the stock’s upside potential is 35.39% with the C share price recently placing at $51.1 to $52.04. However, some brokerage firms have priced the stock below the average, including one that has called $46.
The shorts are running away from the Citigroup Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the C shares have declined. Short interest in the stock represents just 0.82% of its float, but the volume has dropped by 0.
In the last trading session, Citigroup Inc. (NYSE:C) raised by $0.06 over the week and gained $0.73 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $83.11. The stock recorded its established 52-week high on 01/14/20.
Since 03/18/20, the stock has traded to a low of $32 at 59.75%, 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, Citigroup Inc.’s two-week RSI is 49.37. This suggests that the stock is neutral at the moment and that C shares’ price movement remains stable. The stochastic readings are equally revealing at 43.42% meaning the C share price is currently in neutral territory.
The technical chart shows that the C stock will likely settle at between $51.74 and $52.36 per share. However, if the stock dips below $50.8, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $50.48.
Currently, the stock is trading in the green of MACD, with a reading of 0.83. 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 Odeon cut their recommendation for C from Hold to Sell in August 18 review. Odeon analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on July 17. Seaport Global Securities analysts see the stock as Buy when the analysts initiated the share price coverage on July 08, placing it at $65.
The average rating for the C equity is 1.88 and is currently gathering a bullish momentum. Of 26 analysts tracking Citigroup Inc. polled by Reuters, 3 rated C as a hold. The remaining 23 analysts were split evenly. However, the split wasn’t equal as a majority (22) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the C stock price is 8.46X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 8.8 below the group’s average of 15.1. Citigroup Inc. has its P/E ratio at 0.6, which means that the stock is currently trading at a discount relative to the 0.8 industry average.