The stock of Priority Technology Holdings, Inc. (NASDAQ:PRTH) is now priced at $2.33 and the shares are 0.38 points up or 19.23% higher compared to its previous closing price of $1.95. The stock had 5.331 million contracts set over the past session. PRTH shares’ daily volume is compared to its average trading volume at 0.067 million shares. However, it has a float of 10.68 million and although its performance was 10.19% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the PRTH share price recently placing at $2.01 to $2.48. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the Priority Technology Holdings, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the PRTH shares have declined. Short interest in the stock represents just 1.52% of its float, but the volume has dropped by -9823. The volume of shorted shares dropped to 162204 from 172027 shares over the last two weeks. The average intraday trading volume has been 32916 shares, which means that days to cover moved to roughly 4.927816.
In the last trading session, Priority Technology Holdings, Inc. (NASDAQ:PRTH) raised by $0.22 over the week and gained $0.08 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.6. The stock recorded its established 52-week high on 09/10/19.
Since 05/12/20, the stock has traded to a low of $1.33 at 75.14%, 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 0.13. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Priority Technology Holdings, Inc.’s two-week RSI is 53.12. This suggests that the stock is neutral at the moment and that PRTH shares’ price movement remains stable. The stochastic readings are equally revealing at 16.03% meaning the PRTH share price is currently in overbought territory.
The technical chart shows that the PRTH stock will likely settle at between $2.53 and $2.74 per share. However, if the stock dips below $2.06, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.8.
Currently, the stock is trading in the red of MACD, with a reading of -0.01. 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 PRTH a rating of Buy in their resuming review released on June 30. ROTH Capital analysts see the stock as a Buy with a target price of $9 in a flash note released to investors on October 11 initiating covering the stock.
The average rating for the PRTH equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Priority Technology Holdings, Inc. polled by Reuters, 0 rated PRTH as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.
The stocks P/S ratio currently stands below the group’s average of 39.7. Priority Technology Holdings, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 3.9 industry average.