The stock of eXp World Holdings, Inc. (NASDAQ:EXPI) is now priced at $44.48 and the shares are 3.51 points up or 8.57% higher compared to its previous closing price of $40.97. The stock had 1.539 million contracts set over the past session. EXPI shares’ daily volume is compared to its average trading volume at 0.813 million shares. However, it has a float of 28.9 million and although its performance was 19.25% over the week, it’s one to watch. Analysts have given the EXPI stock a yearly average price target of $32 per share. It means the stock’s downside potential is -28.06% with the EXPI share price recently placing at $41.13 to $45.45. However, some brokerage firms have priced the stock below the average, including one that has called $28.
The shorts are running away from the eXp World Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the EXPI shares have declined. Short interest in the stock represents just 7.76% of its float, but the volume has dropped by -151493. The volume of shorted shares dropped to 2.242 million from 2.393 million shares over the last two weeks. The average intraday trading volume has been 1.074 million shares, which means that days to cover moved to roughly 2.087643.
In the last trading session, eXp World Holdings, Inc. (NASDAQ:EXPI) raised by $7.18 over the week and gained $24.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $45.45. The stock recorded its established 52-week high on 08/31/20.
Since 03/19/20, the stock has traded to a low of $6.51 at 583.26%, 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 3.13. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, eXp World Holdings, Inc.’s two-week RSI is 79.01. This suggests that the stock is oversold at the moment and that EXPI shares’ price movement remains not stable. The stochastic readings are equally revealing at 88.86% meaning the EXPI share price is currently in oversold territory.
The technical chart shows that the EXPI stock will likely settle at between $46.24 and $48.01 per share. However, if the stock dips below $41.92, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $39.37.
Currently, the stock is trading in the green of MACD, with a reading of 1.14. 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.
The average rating for the EXPI equity is 1.33 and is currently gathering a bullish momentum. Of 3 analysts tracking eXp World Holdings, Inc. polled by Reuters, 0 rated EXPI as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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 EXPI stock price is 94.04X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for eXp World Holdings, Inc. (NASDAQ:EXPI) will decrease by about -99.88%, which will see them reach $407 million. The company’s full-year revenues are, however, expected to increase by about 45.93%, up from $980 million to $1430 million. EXPI’s expected adjusted earnings should drop almost -333.33% to end up at $0.07 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -266.67% to record $0.25/share.