The stock of Sea Limited (NYSE:SE) is now priced at $161.8 and the shares are 8.99 points up or 5.88% higher compared to its previous closing price of $152.81. The stock had 4.833 million contracts set over the past session. SE shares’ daily volume is compared to its average trading volume at 4.78 million shares. However, it has a float of 80.62 million and although its performance was 4.98% over the week, it’s one to watch. Analysts have given the SE stock a yearly average price target of $166.61 per share. It means the stock’s upside potential is 2.97% with the SE share price recently placing at $153.31 to $162. However, some brokerage firms have priced the stock below the average, including one that has called $124.
The shorts are running away from the Sea Limited stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the SE shares have declined. Short interest in the stock represents just 33.95% of its float, but the volume has dropped by 0.
In the last trading session, Sea Limited (NYSE:SE) raised by $7.67 over the week and gained $24.29 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $163.14. The stock recorded its established 52-week high on 08/26/20.
Since 10/21/19, the stock has traded to a low of $26.41 at 512.65%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Sea Limited’s two-week RSI is 68.62. This suggests that the stock is neutral at the moment and that SE shares’ price movement remains stable. The stochastic readings are equally revealing at 82.86% meaning the SE share price is currently in oversold territory.
The technical chart shows that the SE stock will likely settle at between $164.76 and $167.73 per share. However, if the stock dips below $156.07, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $150.35.
Currently, the stock is trading in the green of MACD, with a reading of 1.98. 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 CLSA raised their recommendation for SE from Outperform to Buy in August 18 review while maintain their target price of $128 to $178. Stephens analysts see the stock as a Overweight with a target price of $130 in a flash note released to investors on July 01 initiating covering the stock. CLSA seeing the improvements upgraded the stock from Underperform to Outperform on May 19.
The average rating for the SE equity is 2 and is currently gathering a bullish momentum. Of 17 analysts tracking Sea Limited polled by Reuters, 1 rated SE as a hold. The remaining 16 analysts were split evenly. However, the split wasn’t equal as a majority (15) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 85.8. Sea Limited has its P/E ratio at 92.4, which means that the stock is currently trading at a premium relative to the 8.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Sea Limited (NYSE:SE) will decrease by about -99.84%, which will see them reach $1380 million. The company’s full-year revenues are, however, expected to increase by about 80.48%, up from $2920 million to $5270 million. SE’s expected adjusted earnings should surge almost 17.07% to end up at -$0.48 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 14.5% to record -$2.29/share.