The stock of AGNC Investment Corp. (NASDAQ:AGNC) is now priced at $14.08 and the shares are -0.03 points down or -0.21% lower compared to its previous closing price of $14.11. The stock had 5.584 million contracts set over the past session. AGNC shares’ daily volume is compared to its average trading volume at 8.156 million shares. However, it has a float of 554 million and although its performance was -0.64% over the week, it’s one to watch. Analysts have given the AGNC stock a yearly average price target of $14.92 per share. It means the stock’s upside potential is 5.97% with the AGNC share price recently placing at $14.03 to $14.2. However, some brokerage firms have priced the stock below the average, including one that has called $14.
The shorts are running away from the AGNC Investment Corp. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AGNC shares have declined. Short interest in the stock represents just 2.36% of its float, but the volume has dropped by -3157228. The volume of shorted shares dropped to 13.076 million from 16.234 million shares over the last two weeks. The average intraday trading volume has been 5.435 million shares, which means that days to cover moved to roughly 2.405878.
In the last trading session, AGNC Investment Corp. (NASDAQ:AGNC) dropped by -$0.09 over the week and gained $0.52 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.65. The stock recorded its established 52-week high on 02/21/20.
Since 03/18/20, the stock has traded to a low of $6.25 at 125.28%, 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 0.92. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, AGNC Investment Corp.’s two-week RSI is 60.61. This suggests that the stock is neutral at the moment and that AGNC shares’ price movement remains stable. The stochastic readings are equally revealing at 66.52% meaning the AGNC share price is currently in neutral territory.
The technical chart shows that the AGNC stock will likely settle at between $14.18 and $14.27 per share. However, if the stock dips below $14.01, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $13.93.
Currently, the stock is trading in the green of MACD, with a reading of 0.02. 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 Deutsche Bank raised their recommendation for AGNC from Hold to Buy in July 24 review. Argus analysts see the stock as a Buy with a target price of $15 in a flash note released to investors on June 24 initiating covering the stock. Maxim Group seeing the improvements upgraded the stock from Hold to Buy on May 04, placing it at $15.
The average rating for the AGNC equity is 2.08 and is currently gathering a bullish momentum. Of 13 analysts tracking AGNC Investment Corp. polled by Reuters, 3 rated AGNC as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (10) 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.
Elsewhere, the AGNC stock price is 6.43X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for AGNC Investment Corp. (NASDAQ:AGNC) will decrease by about -50.98%, which will see them reach $358 million. The company’s full-year revenues are, however, expected to increase by about 47.19%, up from $693 million to $1020 million. AGNC’s expected adjusted earnings should drop almost -5.08% to end up at $0.56 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 4.63% to record $2.26/share.