The stock of Sirius XM Holdings Inc. (NASDAQ:SIRI) is now priced at $5.87 and the shares are -0.09 points down or -1.51% lower compared to its previous closing price of $5.96. The stock had 18.814 million contracts set over the past session. SIRI shares’ daily volume is compared to its average trading volume at 25.609 million shares. However, it has a float of 1130 million and although its performance was 0.34% over the week, it’s one to watch. Analysts have given the SIRI stock a yearly average price target of $6.83 per share. It means the stock’s upside potential is 16.35% with the SIRI share price recently placing at $5.85 to $5.9229. However, some brokerage firms have priced the stock below the average, including one that has called $4.75.
The shorts are running away from the Sirius XM Holdings Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SIRI shares have declined. Short interest in the stock represents just 14.14% of its float, but the volume has dropped by -13531112. The volume of shorted shares dropped to 159.832 million from 173.363 million shares over the last two weeks. The average intraday trading volume has been 17.906 million shares, which means that days to cover moved to roughly 8.926365.
In the last trading session, Sirius XM Holdings Inc. (NASDAQ:SIRI) raised by $0.02 over the week and gained $unch on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.4. The stock recorded its established 52-week high on 02/20/20.
Since 03/23/20, the stock has traded to a low of $4.11 at 42.82%, 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 1.15. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sirius XM Holdings Inc.’s two-week RSI is 47.42. This suggests that the stock is neutral at the moment and that SIRI shares’ price movement remains stable. The stochastic readings are equally revealing at 35.56% meaning the SIRI share price is currently in neutral territory.
The technical chart shows that the SIRI stock will likely settle at between $5.91 and $5.95 per share. However, if the stock dips below $5.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.81.
Currently, the stock is trading in the green of MACD, with a reading of 0.04. 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 Citigroup raised their recommendation for SIRI from Neutral to Buy in March 31 review. Pivotal Research Group analysts see the stock as a Buy, but they also dropped the share’s target price from $8.25 to $7.25 in a flash note released to investors on March 31. Credit Suisse seeing the stock struggling downgraded it from Outperform to Neutral on February 07.
The average rating for the SIRI equity is 2.28 and is currently gathering a bullish momentum. Of 18 analysts tracking Sirius XM Holdings Inc. polled by Reuters, 5 rated SIRI as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (11) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SIRI stock price is 22.07X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 25.5 below the group’s average of 94.7. Sirius XM Holdings Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Sirius XM Holdings Inc. (NASDAQ:SIRI) will increase by about 2.99%, which will see them reach $1930 million. The company’s full-year revenues are, however, expected to diminish by about -0.26%, down from $7790 million to $7770 million. SIRI’s expected adjusted earnings should surge almost 0% to end up at $0.05 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 15% to record $0.23/share.