The stock of Hanesbrands Inc. (NYSE:HBI) is now priced at $15.54 and the shares are 0.25 points up or 1.64% higher compared to its previous closing price of $15.29. The stock had 4.665 million contracts set over the past session. HBI shares’ daily volume is compared to its average trading volume at 7.603 million shares. However, it has a float of 344 million and although its performance was -2.94% over the week, it’s one to watch. Analysts have given the HBI stock a yearly average price target of $15.25 per share. It means the stock’s downside potential is -1.87% with the HBI share price recently placing at $15.13 to $15.6. However, some brokerage firms have priced the stock below the average, including one that has called $5.

The shorts are running away from the Hanesbrands Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the HBI shares have declined. Short interest in the stock represents just 10.46% of its float, but the volume has dropped by 0.

In the last trading session, Hanesbrands Inc. (NYSE:HBI) dropped by -$0.47 over the week and gained $1.28 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $16.75. The stock recorded its established 52-week high on 08/11/20.

Since 04/03/20, the stock has traded to a low of $6.96 at 123.28%, 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 1.72. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Hanesbrands Inc.’s two-week RSI is 58.94. This suggests that the stock is neutral at the moment and that HBI shares’ price movement remains stable. The stochastic readings are equally revealing at 21.84% meaning the HBI share price is currently in overbought territory.

The technical chart shows that the HBI stock will likely settle at between $15.72 and $15.89 per share. However, if the stock dips below $15.25, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $14.95.

Currently, the stock is trading in the red of MACD, with a reading of -0.18. 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 Barclays raised their recommendation for HBI from Equal Weight to Overweight in July 31 review while maintain their target price of $15 to $18. Raymond James analysts upgraded their recommendation of the stock from Mkt Perform to Strong Buy while keeping its target price at $20 in a flash note released to investors on July 15. BofA Securities seeing the improvements upgraded the stock from Underperform to Neutral on July 15, placing it at $8.50 to $14.

The average rating for the HBI equity is 2.57 and is currently gathering a bullish momentum. Of 14 analysts tracking Hanesbrands Inc. polled by Reuters, 5 rated HBI as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.

Elsewhere, the HBI stock price is 9.74X ahead of its 12-month Consensus earnings per share estimates.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Hanesbrands Inc. (NYSE:HBI) will decrease by about -5.69%, which will see them reach $1640 million. The company’s full-year revenues are, however, expected to diminish by about -8.61%, down from $6970 million to $6370 million. HBI’s expected adjusted earnings should drop almost -31.48% to end up at $0.37 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -18.75% to record $1.43/share.