The stock of Town Sports International Holdings, Inc. (NASDAQ:CLUB) is now priced at $0.59 and the shares are -0.05 points down or -7.72% lower compared to its previous closing price of $0.64. The stock had 1.393 million contracts set over the past session. CLUB shares’ daily volume is compared to its average trading volume at 1.919 million shares. However, it has a float of 25.48 million and although its performance was -7.8% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CLUB share price recently placing at $0.573 to $0.6519. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Town Sports International Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CLUB shares have declined. Short interest in the stock represents just 3.2% of its float, but the volume has dropped by -78045. The volume of shorted shares dropped to 815829 from 893874 shares over the last two weeks. The average intraday trading volume has been 279866 shares, which means that days to cover moved to roughly 2.91507.
In the last trading session, Town Sports International Holdings, Inc. (NASDAQ:CLUB) dropped by -$0.0499 over the week and gained $0.1601 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3. The stock recorded its established 52-week high on 01/14/20.
Since 04/16/20, the stock has traded to a low of $0.3 at 96.7%, 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 2.41. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Town Sports International Holdings, Inc.’s two-week RSI is 51.37. This suggests that the stock is neutral at the moment and that CLUB shares’ price movement remains stable. The stochastic readings are equally revealing at 22.96% meaning the CLUB share price is currently in overbought territory.
The technical chart shows that the CLUB stock will likely settle at between $0.637 and $0.6839 per share. However, if the stock dips below $0.5581, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.5261.
Currently, the stock is trading in the red of MACD, with a reading of -0.0222. 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 Imperial Capital though raised target price of CLUB stock from $11 to $5.50 but maintained Outperform recommendation in their April 30 review. Imperial Capital analysts see the stock as a Outperform, but they also dropped the share’s target price from $13 to $11 in a flash note released to investors on October 30. Imperial Capital analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on May 01, placing it at $12.50 from $10.50.