The stock of Gulfport Energy Corporation (NASDAQ:GPOR) is now priced at $0.71 and the shares are -0.04 points down or -6.08% lower compared to its previous closing price of $0.75. The stock had 2.625 million contracts set over the past session. GPOR shares’ daily volume is compared to its average trading volume at 4.83 million shares. However, it has a float of 143 million and although its performance was 1.12% over the week, it’s one to watch. Analysts have given the GPOR stock a yearly average price target of $1.13 per share. It means the stock’s upside potential is 59.15% with the GPOR share price recently placing at $0.6676 to $0.75. However, some brokerage firms have priced the stock below the average, including one that has called $0.25.
The shorts are climbing into the Gulfport Energy Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the GPOR shares have risen. Short interest in the stock represents just 16.82% of its float, but the volume has raised by 2292018. The volume of shorted shares rised to 24.106 million from 21.814 million shares over the last two weeks. The average intraday trading volume has been 5.501 million shares, which means that days to cover moved to roughly 4.382212.
In the last trading session, Gulfport Energy Corporation (NASDAQ:GPOR) raised by $0.0078 over the week and lost -$0.3743 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.88. The stock recorded its established 52-week high on 11/05/19.
Since 03/12/20, the stock has traded to a low of $0.35 at 101.63%, 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 6.49. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Gulfport Energy Corporation’s two-week RSI is 39.55. This suggests that the stock is neutral at the moment and that GPOR shares’ price movement remains stable. The stochastic readings are equally revealing at 38.68% meaning the GPOR share price is currently in neutral territory.
The technical chart shows that the GPOR stock will likely settle at between $0.7479 and $0.7902 per share. However, if the stock dips below $0.6655, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.6254.
Currently, the stock is trading in the green of MACD, with a reading of 0.0231. 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 Stifel cut their recommendation for GPOR from Buy to Sell in March 31 review. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight in a flash note released to investors on March 25. Piper Sandler seeing the stock struggling downgraded it from Neutral to Underweight on March 09.
The average rating for the GPOR equity is 3.33 and is currently gathering a bearish momentum. Of 11 analysts tracking Gulfport Energy Corporation polled by Reuters, 6 rated GPOR as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 5 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the GPOR stock price is 2.85X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Gulfport Energy Corporation (NASDAQ:GPOR) will decrease by about -99.85%, which will see them reach $158 million. The company’s full-year revenues are, however, expected to diminish by about -44.69%, down from $1350 million to $747 million. GPOR’s expected adjusted earnings should drop almost -166.67% to end up at -$0.16 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -69.44% to record $0.22/share.