The stock of EQT Corporation (NYSE:EQT) is now priced at $15.6 and the shares are -0.27 points down or -1.7% lower compared to its previous closing price of $15.87. The stock had 2.331 million contracts set over the past session. EQT shares’ daily volume is compared to its average trading volume at 5.219 million shares. However, it has a float of 253 million and although its performance was -4.7% over the week, it’s one to watch. Analysts have given the EQT stock a yearly average price target of $17.97 per share. It means the stock’s upside potential is 15.19% with the EQT share price recently placing at $15.31 to $15.73. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the EQT Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the EQT shares have declined. Short interest in the stock represents just 6.92% of its float, but the volume has dropped by 0.
In the last trading session, EQT Corporation (NYSE:EQT) dropped by -$0.77 over the week and lost -$0.38 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.97. The stock recorded its established 52-week high on 08/10/20.
Since 02/27/20, the stock has traded to a low of $4.21 at 270.55%, 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 1.5. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, EQT Corporation’s two-week RSI is 48.65. This suggests that the stock is neutral at the moment and that EQT shares’ price movement remains stable. The stochastic readings are equally revealing at 24.9% meaning the EQT share price is currently in overbought territory.
The technical chart shows that the EQT stock will likely settle at between $15.78 and $15.97 per share. However, if the stock dips below $15.36, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.13.
Currently, the stock is trading in the red of MACD, with a reading of -0.17. 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 EQT a rating of Buy in their intiating review released on August 21. Mizuho analysts see the stock as a Buy in a flash note released to investors on July 23 initiating covering the stock. Evercore ISI analysts see the stock as In-line when the analysts resumed the share price coverage on July 14.
The average rating for the EQT equity is 2.24 and is currently gathering a bullish momentum. Of 19 analysts tracking EQT Corporation polled by Reuters, 5 rated EQT as a hold. The remaining 14 analysts were split evenly. However, the split wasn’t equal as a majority (14) 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 EQT stock price is 50.32X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for EQT Corporation (NYSE:EQT) will decrease by about -99.83%, which will see them reach $851 million. The company’s full-year revenues are, however, expected to diminish by about -13.3%, down from $4060 million to $3520 million. EQT’s expected adjusted earnings should surge almost 283.33% to end up at -$0.23 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -136.14% to record -$0.3/share.