The stock of United Airlines Holdings, Inc. (NASDAQ:UAL) is now priced at $36 and the shares are -1.34 points down or -3.59% lower compared to its previous closing price of $37.34. The stock had 27.114 million contracts set over the past session. UAL shares’ daily volume is compared to its average trading volume at 56.939 million shares. However, it has a float of 290 million and although its performance was -0.88% over the week, it’s one to watch. Analysts have given the UAL stock a yearly average price target of $41.53 per share. It means the stock’s upside potential is 15.36% with the UAL share price recently placing at $35.73 to $37.44. However, some brokerage firms have priced the stock below the average, including one that has called $25.
The shorts are running away from the United Airlines Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the UAL shares have declined. Short interest in the stock represents just 8.66% of its float, but the volume has dropped by -1370426. The volume of shorted shares dropped to 25.098 million from 26.468 million shares over the last two weeks. The average intraday trading volume has been 37.188 million shares, which means that days to cover moved to roughly 1.
In the last trading session, United Airlines Holdings, Inc. (NASDAQ:UAL) dropped by -$0.32 over the week and gained $4.13 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $95.16. The stock recorded its established 52-week high on 11/07/19.
Since 03/18/20, the stock has traded to a low of $17.8 at 102.25%, 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 1.53. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, United Airlines Holdings, Inc.’s two-week RSI is 53.74. This suggests that the stock is neutral at the moment and that UAL shares’ price movement remains stable. The stochastic readings are equally revealing at 56.91% meaning the UAL share price is currently in neutral territory.
The technical chart shows that the UAL stock will likely settle at between $37.05 and $38.1 per share. However, if the stock dips below $35.34, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $34.68.
Currently, the stock is trading in the green of MACD, with a reading of 1.31. 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 UAL a rating of Buy in their intiating review released on June 17. Credit Suisse analysts downgraded their recommendation of the stock from Outperform to Neutral in a flash note released to investors on June 12. JP Morgan seeing the stock struggling downgraded it from Overweight to Neutral on June 10 placing it at $43.
The average rating for the UAL equity is 2.53 and is currently gathering a bullish momentum. Of 19 analysts tracking United Airlines Holdings, Inc. polled by Reuters, 11 rated UAL as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) 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 United Airlines Holdings, Inc. (NASDAQ:UAL) will increase by about 86.44%, which will see them reach $2750 million. The company’s full-year revenues are, however, expected to diminish by about -61.4%, down from $43300 million to $16700 million. UAL’s expected adjusted earnings should drop almost -280.84% to end up at -$7.36 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -290.04% to record -$22.9/share.