The stock of Enservco Corporation (NYSE:ENSV) is now priced at $0.14 and the shares are -0.01 points down or -6.28% lower compared to its previous closing price of $0.15. The stock had 1.147 million contracts set over the past session. ENSV shares’ daily volume is compared to its average trading volume at 4.147 million shares. However, it has a float of 45.95 million and although its performance was -8.87% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ENSV share price recently placing at $0.14 to $0.15. However, some brokerage firms have priced the stock below the average, including one that has called $0.4.
The shorts are running away from the Enservco Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ENSV shares have declined. Short interest in the stock represents just 8.07% of its float, but the volume has dropped by 0.
In the last trading session, Enservco Corporation (NYSE:ENSV) dropped by -$0.0135 over the week and lost -$0.0776 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $0.39. The stock recorded its established 52-week high on 04/24/20.
Since 03/19/20, the stock has traded to a low of $0.0748 at 85.43%, 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 2.17. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Enservco Corporation’s two-week RSI is 38.05. This suggests that the stock is neutral at the moment and that ENSV shares’ price movement remains stable. The stochastic readings are equally revealing at 23.89% meaning the ENSV share price is currently in overbought territory.
The technical chart shows that the ENSV stock will likely settle at between $0.1474 and $0.1561 per share. However, if the stock dips below $0.1326, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.1265.
Currently, the stock is trading in the red of MACD, with a reading of -0.0047. 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 Northland Capital though dropped target price of ENSV stock from $2 to $1.25 but maintained Outperform recommendation in their November 13 review. Northland Capital analysts see the stock as a Outperform, but they also dropped the share’s target price from $4 to $2.75 in a flash note released to investors on March 19. Northland Capital analysts see the stock as Outperform when the analysts initiated the share price coverage on September 08, placing it at $4.
The average rating for the ENSV equity is 2.5 and is currently gathering a bullish momentum. Of 2 analysts tracking Enservco Corporation polled by Reuters, 1 rated ENSV as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Enservco Corporation (NYSE:ENSV) will decrease by about -99.88%, which will see them reach $2.5 million. The company’s full-year revenues are, however, expected to diminish by about -45.18%, down from $43.03 million to $23.59 million. ENSV’s expected adjusted earnings should drop almost -40% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 57.14% to record -$0.22/share.