The stock of Gol Linhas Aereas Inteligentes S.A. (NYSE:GOL) is now priced at $6.94 and the shares are 0.42 points up or 6.44% higher compared to its previous closing price of $6.52. The stock had 1.683 million contracts set over the past session. GOL shares’ daily volume is compared to its average trading volume at 2.303 million shares. However, it has a float of 78.1 million and although its performance was 6.28% over the week, it’s one to watch. Analysts have given the GOL stock a yearly average price target of $9.15 per share. It means the stock’s upside potential is 31.84% with the GOL share price recently placing at $6.72 to $7.09. However, some brokerage firms have priced the stock below the average, including one that has called $4.67.
The shorts are running away from the Gol Linhas Aereas Inteligentes S.A. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the GOL shares have declined. Short interest in the stock represents just 5.89% of its float, but the volume has dropped by 0.
In the last trading session, Gol Linhas Aereas Inteligentes S.A. (NYSE:GOL) raised by $0.41 over the week and gained $0.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.36. The stock recorded its established 52-week high on 10/30/19.
Since 03/19/20, the stock has traded to a low of $1.85 at 275.14%, 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 0.77. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Gol Linhas Aereas Inteligentes S.A.’s two-week RSI is 52.69. This suggests that the stock is neutral at the moment and that GOL shares’ price movement remains stable. The stochastic readings are equally revealing at 63.58% meaning the GOL share price is currently in neutral territory.
The technical chart shows that the GOL stock will likely settle at between $7.11 and $7.29 per share. However, if the stock dips below $6.74, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.55.
Currently, the stock is trading in the green of MACD, with a reading of 0.29. 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 UBS cut their recommendation for GOL from Neutral to Sell in July 17 review. BofA/Merrill analysts see the stock as a Neutral with a target price of $6 in a flash note released to investors on May 28 resuming covering the stock. Morgan Stanley seeing the stock struggling downgraded it from Overweight to Equal-Weight on April 24.
The average rating for the GOL equity is 2.63 and is currently gathering a bullish momentum. Of 8 analysts tracking Gol Linhas Aereas Inteligentes S.A. polled by Reuters, 6 rated GOL as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Gol Linhas Aereas Inteligentes S.A. (NYSE:GOL) will decrease by about -45.77%, which will see them reach $194 million. The company’s full-year revenues are, however, expected to diminish by about -64.96%, down from $3510 million to $1230 million. GOL’s expected adjusted earnings should drop almost -52.21% to end up at -$0.65 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 2380% to record -$3.72/share.