The stock of Caesars Entertainment, Inc. (NASDAQ:CZR) is now priced at $46.86 and the shares are 1.06 points up or 2.31% higher compared to its previous closing price of $45.8. The stock had 3.751 million contracts set over the past session. CZR shares’ daily volume is compared to its average trading volume at 7.715 million shares. However, it has a float of 161 million and although its performance was 6.84% over the week, it’s one to watch. Analysts have given the CZR stock a yearly average price target of $56.33 per share.
The shorts are running away from the Caesars Entertainment, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CZR shares have declined. Short interest in the stock represents just 9.17% of its float, but the volume has dropped by -3388104. The volume of shorted shares dropped to 14.731 million from 18.119 million shares over the last two weeks. The average intraday trading volume has been 4.797 million shares, which means that days to cover moved to roughly 3.070872.
In the last trading session, Caesars Entertainment, Inc. (NASDAQ:CZR) raised by $3 over the week and gained $12.93 on its 20-day. The stock’s high in the recent session is higher when compared to its 52-week high of $70.74. The stock recorded its established 52-week high on 02/20/20.
Since 03/18/20, the stock has traded to a low of $6.02 at 678.41%, 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 2.96. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Caesars Entertainment, Inc.’s two-week RSI is 62.44. This suggests that the stock is neutral at the moment and that CZR shares’ price movement remains stable. The stochastic readings are equally revealing at 80.73% meaning the CZR share price is currently in oversold territory.
The technical chart shows that the CZR stock will likely settle at between $48.12 and $49.38 per share. However, if the stock dips below $45.48, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $44.1.
Currently, the stock is trading in the green of MACD, with a reading of 1.21. 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 CZR a rating of Overweight in their resuming review released on August 13. Wolfe Research analysts see the stock as a Outperform with a target price of $63 in a flash note released to investors on July 21 resuming covering the stock. Cowen analysts see the stock as Outperform when the analysts initiated the share price coverage on July 21, placing it at $52.
The average rating for the CZR equity is 1.78 and is currently gathering a bullish momentum. Of 12 analysts tracking Caesars Entertainment, Inc. polled by Reuters, 2 rated CZR 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.