The stock of Venator Materials PLC (NYSE:VNTR) is now priced at $2.15 and the shares are 0.16 points up or 8.04% higher compared to its previous closing price of $1.99. The stock had 2.853 million contracts set over the past session. VNTR shares’ daily volume is compared to its average trading volume at 0.318 million shares. However, it has a float of 54.05 million and although its performance was 7.5% over the week, it’s one to watch. Analysts have given the VNTR stock a yearly average price target of $2.3 per share. It means the stock’s upside potential is 6.98% with the VNTR share price recently placing at $2.01 to $2.31.
The shorts are running away from the Venator Materials PLC stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the VNTR shares have declined. Short interest in the stock represents just 1.3% of its float, but the volume has dropped by 0.
In the last trading session, Venator Materials PLC (NYSE:VNTR) raised by $0.15 over the week and gained $0.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.31. The stock recorded its established 52-week high on 11/18/19.
Since 04/22/20, the stock has traded to a low of $1.12 at 91.96%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Venator Materials PLC’s two-week RSI is 59.66. This suggests that the stock is neutral at the moment and that VNTR shares’ price movement remains stable. The stochastic readings are equally revealing at 41.59% meaning the VNTR share price is currently in neutral territory.
The technical chart shows that the VNTR stock will likely settle at between $2.3 and $2.46 per share. However, if the stock dips below $2, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.86.
Currently, the stock is trading in the green of MACD, with a reading of 0.01. 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 BMO Capital Markets cut their recommendation for VNTR from Outperform to Market Perform in April 21 review. Goldman analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $2 in a flash note released to investors on March 30. Jefferies seeing the stock struggling downgraded it from Buy to Hold on March 23.
The average rating for the VNTR equity is 2.85 and is currently gathering a bullish momentum. Of 13 analysts tracking Venator Materials PLC polled by Reuters, 9 rated VNTR as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the VNTR stock price is 10.24X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 46.4. Venator Materials PLC has its P/E ratio at 0.3, which means that the stock is currently trading at a discount relative to the 3.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Venator Materials PLC (NYSE:VNTR) will decrease by about -99.9%, which will see them reach $469 million. The company’s full-year revenues are, however, expected to diminish by about -10.33%, down from $2130 million to $1910 million. VNTR’s expected adjusted earnings should drop almost -200% to end up at -$0.08 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -137.5% to record -$0.09/share.