The stock of iClick Interactive Asia Group Limited (NASDAQ:ICLK) is now priced at $9.57 and the shares are -0.06 points down or -0.62% lower compared to its previous closing price of $9.63. The stock had 1.541 million contracts set over the past session. ICLK shares’ daily volume is compared to its average trading volume at 1.093 million shares. However, it has a float of 24.68 million and although its performance was -4.2% over the week, it’s one to watch. Analysts have given the ICLK stock a yearly average price target of $11.18 per share. It means the stock’s upside potential is 16.82% with the ICLK share price recently placing at $9.52 to $9.865. However, some brokerage firms have priced the stock below the average, including one that has called $10.
The shorts are climbing into the iClick Interactive Asia Group Limited stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ICLK shares have risen. Short interest in the stock represents just 4.76% of its float, but the volume has raised by 16904. The volume of shorted shares rised to 1.175 million from 1.158 million shares over the last two weeks. The average intraday trading volume has been 1.121 million shares, which means that days to cover moved to roughly 1.048142.
In the last trading session, iClick Interactive Asia Group Limited (NASDAQ:ICLK) dropped by -$0.42 over the week and gained $1.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $10.22. The stock recorded its established 52-week high on 08/26/20.
Since 10/08/19, the stock has traded to a low of $2.8 at 242.4%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, iClick Interactive Asia Group Limited’s two-week RSI is 70.21. This suggests that the stock is oversold at the moment and that ICLK shares’ price movement remains not stable. The stochastic readings are equally revealing at 78.16% meaning the ICLK share price is currently in oversold territory.
The technical chart shows that the ICLK stock will likely settle at between $9.78 and $10 per share. However, if the stock dips below $9.44, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.31.
Currently, the stock is trading in the green of MACD, with a reading of 0.16. 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 ICLK a rating of Buy in their intiating review released on January 27. Jefferies analysts see the stock as a Buy in a flash note released to investors on December 05 initiating covering the stock. The Benchmark Company analysts see the stock as Buy when the analysts initiated the share price coverage on June 19, placing it at $14.
The average rating for the ICLK equity is 1.75 and is currently gathering a bullish momentum. Of 4 analysts tracking iClick Interactive Asia Group Limited polled by Reuters, 0 rated ICLK as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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 ICLK stock price is 41.61X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for iClick Interactive Asia Group Limited (NASDAQ:ICLK) will decrease by about -99.88%, which will see them reach $68.37 million. The company’s full-year revenues are, however, expected to increase by about 25.96%, up from $199 million to $251 million. ICLK’s expected adjusted earnings should drop almost -150% to end up at $0.01 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -225% to record $0.05/share.