The stock of GoHealth, Inc. (NASDAQ:GOCO) is now priced at $13.91 and the shares are 0.48 points up or 3.57% higher compared to its previous closing price of $13.43. The stock had 1.96 million contracts set over the past session. GOCO shares’ daily volume is compared to its average trading volume at 3.302 million shares. However, it has a float of 43.4 million and although its performance was -10.32% over the week, it’s one to watch. Analysts have given the GOCO stock a yearly average price target of $23.44 per share. It means the stock’s upside potential is 68.51% with the GOCO share price recently placing at $13.39 to $14.21. However, some brokerage firms have priced the stock below the average, including one that has called $18.
The shorts are climbing into the GoHealth, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the GOCO shares have risen. Short interest in the stock represents just 5.45% of its float, but the volume has raised by 144942. The volume of shorted shares rised to 2.364 million from 2.219 million shares over the last two weeks. The average intraday trading volume has been 1.102 million shares, which means that days to cover moved to roughly 2.144879.
Looking at current readings, GoHealth, Inc.’s two-week RSI is 0. This suggests that the stock is overbought at the moment and that GOCO shares’ price movement remains not stable. The stochastic readings are equally revealing at 11.18% meaning the GOCO share price is currently in overbought territory.
The technical chart shows that the GOCO stock will likely settle at between $14.28 and $14.66 per share. However, if the stock dips below $13.46, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.02.
Currently, the stock is trading in the red of MACD, with a reading of -1.55. 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 Maxim Group assigned GOCO a rating of Outperform in their intiating review released on August 11. RBC Capital Mkts analysts see the stock as a Outperform with a target price of $22 in a flash note released to investors on August 10 initiating covering the stock. Morgan Stanley analysts see the stock as Equal-Weight when the analysts initiated the share price coverage on August 10, placing it at $17.
The average rating for the GOCO equity is — and is currently gathering a bearish momentum. Of 10 analysts tracking GoHealth, Inc. polled by Reuters, 1 rated GOCO as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (9) 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 GOCO stock price is 17.39X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 28.7. GoHealth, Inc. has its P/E ratio at 10.6, which means that the stock is currently trading at a premium relative to the 5.6 industry average.