The stock of The Alkaline Water Company Inc. (NASDAQ:WTER) is now priced at $1.49 and the shares are 0.03 points up or 2.05% higher compared to its previous closing price of $1.46. The stock had 1.541 million contracts set over the past session. WTER shares’ daily volume is compared to its average trading volume at 1.716 million shares. However, it has a float of 41.26 million and although its performance was -2.61% over the week, it’s one to watch. Analysts have given the WTER stock a yearly average price target of $2.5 per share. It means the stock’s upside potential is 67.79% with the WTER share price recently placing at $1.35 to $1.525.

The shorts are climbing into the The Alkaline Water Company Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the WTER shares have risen. Short interest in the stock represents just 2.57% of its float, but the volume has raised by 389867. The volume of shorted shares rised to 1.062 million from 671936 shares over the last two weeks. The average intraday trading volume has been 1.165 million shares, which means that days to cover moved to roughly 1.

In the last trading session, The Alkaline Water Company Inc. (NASDAQ:WTER) dropped by -$0.04 over the week and lost -$0.41 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.8. The stock recorded its established 52-week high on 09/10/19.

Since 03/19/20, the stock has traded to a low of $0.4 at 272.5%, 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 2.91. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, The Alkaline Water Company Inc.’s two-week RSI is 41.73. This suggests that the stock is neutral at the moment and that WTER shares’ price movement remains stable. The stochastic readings are equally revealing at 20.61% meaning the WTER share price is currently in overbought territory.

The technical chart shows that the WTER stock will likely settle at between $1.56 and $1.63 per share. However, if the stock dips below $1.385, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.28.

Currently, the stock is trading in the red of MACD, with a reading of -0.0539. 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 WTER a rating of Speculative Buy in their resuming review released on August 18. H.C. Wainwright analysts upgraded their recommendation of the stock from Neutral to Buy in a flash note released to investors on July 24. ROTH Capital analysts see the stock as Buy when the analysts initiated the share price coverage on June 08, placing it at $3.5.

The average rating for the WTER equity is 2.33 and is currently gathering a bullish momentum. Of 4 analysts tracking The Alkaline Water Company Inc. polled by Reuters, 0 rated WTER 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.

The stocks P/S ratio currently stands below the group’s average of 27. The Alkaline Water Company Inc. has its P/E ratio at 19.3, which means that the stock is currently trading at a premium relative to the 7.2 industry average.

Zacks Consensus Estimate forecasts that the current-quarter revenues for The Alkaline Water Company Inc. (NASDAQ:WTER) will decrease by about -99.9%, which will see them reach $14.55 million. The company’s full-year revenues are, however, expected to increase by about 39.4%, up from $41.14 million to $57.35 million. WTER’s expected adjusted earnings should drop almost -71.43% to end up at -$0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -61.76% to record -$0.13/share.