The stock of GFL Environmental Inc. (NYSE:GFL) is now priced at $18.25 and the shares are -0.42 points down or -2.25% lower compared to its previous closing price of $18.67. The stock had 1.282 million contracts set over the past session. GFL shares’ daily volume is compared to its average trading volume at 1.237 million shares. However, it has a float of 233 million and although its performance was -3.95% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the GFL share price recently placing at $18.2 to $18.81. However, some brokerage firms have priced the stock below the average, including one that has called $21.21.

The shorts are running away from the GFL Environmental Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GFL shares have declined. Short interest in the stock represents just 3.72% of its float, but the volume has dropped by 0.

Looking at current readings, GFL Environmental Inc.’s two-week RSI is 36.81. This suggests that the stock is neutral at the moment and that GFL shares’ price movement remains stable. The stochastic readings are equally revealing at 23.72% meaning the GFL share price is currently in overbought territory.

The technical chart shows that the GFL stock will likely settle at between $18.64 and $19.03 per share. However, if the stock dips below $18.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $17.81.

Currently, the stock is trading in the red of MACD, with a reading of -0.29. 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 Goldman raised their recommendation for GFL from Neutral to Buy in August 19 review while maintain their target price of $21 to $24. CIBC analysts upgraded their recommendation of the stock from Neutral to Sector Outperform in a flash note released to investors on July 15. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on July 01.

The average rating for the GFL equity is 2 and is currently gathering a bullish momentum. Of 11 analysts tracking GFL Environmental Inc. polled by Reuters, 1 rated GFL as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (10) 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 54.4. GFL Environmental Inc. has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 4.2 industry average.