The stock of Seritage Growth Properties (NYSE:SRG) is now priced at $14.03 and the shares are 0.2 points up or 1.45% higher compared to its previous closing price of $13.83. The stock had 1.1 million contracts set over the past session. SRG shares’ daily volume is compared to its average trading volume at 1.415 million shares. However, it has a float of 29.51 million and although its performance was 5.65% over the week, it’s one to watch. Analysts have given the SRG stock a yearly average price target of $16 per share. It means the stock’s upside potential is 14.04% with the SRG share price recently placing at $13.43 to $14.27. However, some brokerage firms have priced the stock below the average, including one that has called $16.
The shorts are running away from the Seritage Growth Properties stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SRG shares have declined. Short interest in the stock represents just 54.03% of its float, but the volume has dropped by 0.
In the last trading session, Seritage Growth Properties (NYSE:SRG) raised by $0.75 over the week and gained $4.79 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $45.7. The stock recorded its established 52-week high on 11/05/19.
Since 03/18/20, the stock has traded to a low of $5 at 180.6%, 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 2.18. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Seritage Growth Properties’s two-week RSI is 65.58. This suggests that the stock is neutral at the moment and that SRG shares’ price movement remains stable. The stochastic readings are equally revealing at 70.11% meaning the SRG share price is currently in oversold territory.
The technical chart shows that the SRG stock will likely settle at between $14.39 and $14.75 per share. However, if the stock dips below $13.55, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.07.
Currently, the stock is trading in the green of MACD, with a reading of 0.62. 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 SRG a rating of Sector Perform in their resuming review released on April 15.
The average rating for the SRG equity is 3 and is currently gathering a bullish momentum. Of 1 analysts tracking Seritage Growth Properties polled by Reuters, 1 rated SRG as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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.
The stocks P/S ratio currently stands below the group’s average of 19.9. Seritage Growth Properties has its P/E ratio at 1.1, which means that the stock is currently trading at a discount relative to the 1.7 industry average.