The stock of Avaya Holdings Corp. (NYSE:AVYA) is now priced at $16.36 and the shares are 0.84 points up or 5.41% higher compared to its previous closing price of $15.52. The stock had 1.412 million contracts set over the past session. AVYA shares’ daily volume is compared to its average trading volume at 1.665 million shares. However, it has a float of 81.48 million and although its performance was 4.34% over the week, it’s one to watch. Analysts have given the AVYA stock a yearly average price target of $19.43 per share. It means the stock’s upside potential is 18.77% with the AVYA share price recently placing at $15.7 to $16.41. However, some brokerage firms have priced the stock below the average, including one that has called $17.
The shorts are running away from the Avaya Holdings Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AVYA shares have declined. Short interest in the stock represents just 21.27% of its float, but the volume has dropped by 0.
In the last trading session, Avaya Holdings Corp. (NYSE:AVYA) raised by $0.68 over the week and gained $2.84 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $16.91. The stock recorded its established 52-week high on 08/19/20.
Since 03/12/20, the stock has traded to a low of $6.13 at 166.88%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Avaya Holdings Corp.’s two-week RSI is 67.13. This suggests that the stock is neutral at the moment and that AVYA shares’ price movement remains stable. The stochastic readings are equally revealing at 45.76% meaning the AVYA share price is currently in neutral territory.
The technical chart shows that the AVYA stock will likely settle at between $16.61 and $16.87 per share. However, if the stock dips below $15.9, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.45.
Currently, the stock is trading in the green of MACD, with a reading of 0.03. 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 AVYA a rating of Buy in their intiating review released on September 01. JP Morgan analysts see the stock as a Overweight with a target price of $11 in a flash note released to investors on April 23 initiating covering the stock. Morgan Stanley seeing the improvements upgraded the stock from Equal-Weight to Overweight on March 16, placing it at $12.
The average rating for the AVYA equity is 2.13 and is currently gathering a bullish momentum. Of 9 analysts tracking Avaya Holdings Corp. polled by Reuters, 1 rated AVYA 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.
Elsewhere, the AVYA stock price is 3.67X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 6367.1. Avaya Holdings Corp. has its P/E ratio at 6.4, which means that the stock is currently trading at a discount relative to the 11.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Avaya Holdings Corp. (NYSE:AVYA) will decrease by about -99.9%, which will see them reach $734 million. The company’s full-year revenues are, however, expected to diminish by about -1.72%, down from $2910 million to $2860 million. AVYA’s expected adjusted earnings should surge almost 57.75% to end up at $1.12 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -8.48% to record $3.56/share.