The stock of Tronox Holdings plc (NYSE:TROX) is now priced at $9.48 and the shares are 0.52 points up or 5.8% higher compared to its previous closing price of $8.96. The stock had 1.177 million contracts set over the past session. TROX shares’ daily volume is compared to its average trading volume at 1.198 million shares. However, it has a float of 88.36 million and although its performance was 8.1% over the week, it’s one to watch. Analysts have given the TROX stock a yearly average price target of $10.75 per share. It means the stock’s upside potential is 13.4% with the TROX share price recently placing at $8.815 to $9.49. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are running away from the Tronox Holdings plc stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the TROX shares have declined. Short interest in the stock represents just 7.79% of its float, but the volume has dropped by 0.
In the last trading session, Tronox Holdings plc (NYSE:TROX) raised by $0.71 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 $12.4. The stock recorded its established 52-week high on 01/15/20.
Since 04/03/20, the stock has traded to a low of $3.97 at 138.79%, 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 3.06. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Tronox Holdings plc’s two-week RSI is 63.78. This suggests that the stock is neutral at the moment and that TROX shares’ price movement remains stable. The stochastic readings are equally revealing at 72.33% meaning the TROX share price is currently in oversold territory.
The technical chart shows that the TROX stock will likely settle at between $9.71 and $9.94 per share. However, if the stock dips below $9.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.59.
Currently, the stock is trading in the green of MACD, with a reading of 0.32. 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 TROX a rating of Outperform in their intiating review released on February 07. Morgan Stanley analysts see the stock as a Equal-Weight with a target price of $21 in a flash note released to investors on January 30 initiating covering the stock. Barclays analysts see the stock as Overweight when the analysts initiated the share price coverage on December 14, placing it at $25.
The average rating for the TROX equity is 2.38 and is currently gathering a bullish momentum. Of 8 analysts tracking Tronox Holdings plc polled by Reuters, 1 rated TROX as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (6) 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.
Elsewhere, the TROX stock price is 8.52X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Tronox Holdings plc (NYSE:TROX) will decrease by about -99.89%, which will see them reach $622 million. The company’s full-year revenues are, however, expected to diminish by about -3.79%, down from $2640 million to $2540 million. TROX’s expected adjusted earnings should drop almost -71.43% to end up at $0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -8.51% to record $0.43/share.