The stock of SciPlay Corporation (NASDAQ:SCPL) is now priced at $13.35 and the shares are 0.16 points up or 1.25% higher compared to its previous closing price of $13.19. The stock had 2.182 million contracts set over the past session. SCPL shares’ daily volume is compared to its average trading volume at 0.703 million shares. However, it has a float of 22.58 million and although its performance was -0.07% over the week, it’s one to watch. Analysts have given the SCPL stock a yearly average price target of $17.71 per share. It means the stock’s upside potential is 32.66% with the SCPL share price recently placing at $13.06 to $13.6. However, some brokerage firms have priced the stock below the average, including one that has called $12.3.
The shorts are climbing into the SciPlay Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SCPL shares have risen. Short interest in the stock represents just 4.71% of its float, but the volume has raised by 45101. The volume of shorted shares rised to 1.063 million from 1.018 million shares over the last two weeks. The average intraday trading volume has been 752447 shares, which means that days to cover moved to roughly 1.412531.
In the last trading session, SciPlay Corporation (NASDAQ:SCPL) dropped by -$0.01 over the week and lost -$3.25 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.23. The stock recorded its established 52-week high on 08/05/20.
Since 03/18/20, the stock has traded to a low of $5.82 at 129.38%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, SciPlay Corporation’s two-week RSI is 42.88. This suggests that the stock is neutral at the moment and that SCPL shares’ price movement remains stable. The stochastic readings are equally revealing at 35.14% meaning the SCPL share price is currently in neutral territory.
The technical chart shows that the SCPL stock will likely settle at between $13.61 and $13.88 per share. However, if the stock dips below $13.07, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.8.
Currently, the stock is trading in the red of MACD, with a reading of -0.24. 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 RBC Capital Mkts cut their recommendation for SCPL from Outperform to Sector Perform in June 10 review while maintai their target price of $13. BofA/Merrill analysts upgraded their recommendation of the stock from Underperform to Neutral while keeping its target price at $9 to $11.30 in a flash note released to investors on April 22. SunTrust seeing the improvements upgraded the stock from Hold to Buy on April 17, placing it at $11.
The average rating for the SCPL equity is 2.15 and is currently gathering a bullish momentum. Of 12 analysts tracking SciPlay Corporation polled by Reuters, 3 rated SCPL as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (8) 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 SCPL stock price is 13.71X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 8.2 below the group’s average of 85.8. SciPlay Corporation has its P/E ratio at 4.6, which means that the stock is currently trading at a discount relative to the 8.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for SciPlay Corporation (NASDAQ:SCPL) will decrease by about -99.91%, which will see them reach $142 million. The company’s full-year revenues are, however, expected to increase by about 20.74%, up from $466 million to $562 million. SCPL’s expected adjusted earnings should surge almost 20% to end up at $0.24 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 25.68% to record $0.93/share.