The stock of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is now priced at $10.33 and the shares are -0.27 points down or -2.55% lower compared to its previous closing price of $10.6. The stock had 1.591 million contracts set over the past session. GGAL shares’ daily volume is compared to its average trading volume at 1.59 million shares. However, it has a float of 74.78 million and although its performance was 2.68% over the week, it’s one to watch. Analysts have given the GGAL stock a yearly average price target of $12.11 per share. It means the stock’s upside potential is 17.23% with the GGAL share price recently placing at $10.19 to $10.79. However, some brokerage firms have priced the stock below the average, including one that has called $3.29.
The shorts are climbing into the Grupo Financiero Galicia S.A. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the GGAL shares have risen. Short interest in the stock represents just 2.48% of its float, but the volume has raised by 432239. The volume of shorted shares rised to 1.854 million from 1.421 million shares over the last two weeks. The average intraday trading volume has been 1.73 million shares, which means that days to cover moved to roughly 1.071462.
In the last trading session, Grupo Financiero Galicia S.A. (NASDAQ:GGAL) raised by $0.27 over the week and lost -$2.94 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.7. The stock recorded its established 52-week high on 12/26/19.
Since 04/27/20, the stock has traded to a low of $5.66 at 82.51%, 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 1.54. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Grupo Financiero Galicia S.A.’s two-week RSI is 44.5. This suggests that the stock is neutral at the moment and that GGAL shares’ price movement remains stable. The stochastic readings are equally revealing at 22.8% meaning the GGAL share price is currently in overbought territory.
The technical chart shows that the GGAL stock will likely settle at between $10.68 and $11.04 per share. However, if the stock dips below $10.08, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.84.
Currently, the stock is trading in the green of MACD, with a reading of 0.07. 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 HSBC Securities cut their recommendation for GGAL from Hold to Reduce in July 21 review. Citigroup analysts downgraded their recommendation of the stock from Neutral to Sell in a flash note released to investors on May 28. Scotiabank seeing the improvements upgraded the stock from Sector Underperform to Sector Perform on January 17.
The average rating for the GGAL equity is 3.7 and is currently gathering a bearish momentum. Of 9 analysts tracking Grupo Financiero Galicia S.A. polled by Reuters, 2 rated GGAL as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 7 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GGAL stock price is 2.64X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 5.1 below the group’s average of 14.4. Grupo Financiero Galicia S.A. has its P/E ratio at 0.8, which means that the stock is currently trading at a discount relative to the 0.9 industry average.