The stock of Delta Air Lines, Inc. (NYSE:DAL) is now priced at $30.85 and the shares are -1.14 points down or -3.56% lower compared to its previous closing price of $31.99. The stock had 18.263 million contracts set over the past session. DAL shares’ daily volume is compared to its average trading volume at 36.741 million shares. However, it has a float of 633 million and although its performance was 3.52% over the week, it’s one to watch. Analysts have given the DAL stock a yearly average price target of $35.47 per share. It means the stock’s upside potential is 14.98% with the DAL share price recently placing at $30.8 to $32.01. However, some brokerage firms have priced the stock below the average, including one that has called $21.
The shorts are running away from the Delta Air Lines, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DAL shares have declined. Short interest in the stock represents just 3.31% of its float, but the volume has dropped by 0.
In the last trading session, Delta Air Lines, Inc. (NYSE:DAL) raised by $1.05 over the week and gained $5.65 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $62.48. The stock recorded its established 52-week high on 01/17/20.
Since 05/14/20, the stock has traded to a low of $17.51 at 76.19%, 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 1.31. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Delta Air Lines, Inc.’s two-week RSI is 62. This suggests that the stock is neutral at the moment and that DAL shares’ price movement remains stable. The stochastic readings are equally revealing at 80.92% meaning the DAL share price is currently in oversold territory.
The technical chart shows that the DAL stock will likely settle at between $31.64 and $32.43 per share. However, if the stock dips below $30.43, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $30.01.
Currently, the stock is trading in the green of MACD, with a reading of 1.66. 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 Barclays cut their recommendation for DAL from Overweight to Equal Weight in May 04 review. Cowen analysts see the stock as a Outperform, but they also dropped the share’s target price from $39 to $35 in a flash note released to investors on April 16. Deutsche Bank seeing the improvements upgraded the stock from Hold to Buy on March 25.
The average rating for the DAL equity is 2.22 and is currently gathering a bullish momentum. Of 19 analysts tracking Delta Air Lines, Inc. polled by Reuters, 7 rated DAL as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (12) 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.
Elsewhere, the DAL stock price is 16.08X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Delta Air Lines, Inc. (NYSE:DAL) will increase by about 111.17%, which will see them reach $3100 million. The company’s full-year revenues are, however, expected to diminish by about -62.03%, down from $47000 million to $17900 million. DAL’s expected adjusted earnings should drop almost -231.47% to end up at -$3.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -226.68% to record -$9.26/share.