The stock of Under Armour, Inc. (NYSE:UAA) is now priced at $10.25 and the shares are 0.44 points up or 4.49% higher compared to its previous closing price of $9.81. The stock had 5.205 million contracts set over the past session. UAA shares’ daily volume is compared to its average trading volume at 7.628 million shares. However, it has a float of 382 million and although its performance was 0.79% over the week, it’s one to watch. Analysts have given the UAA stock a yearly average price target of $10.39 per share. It means the stock’s upside potential is 1.37% with the UAA share price recently placing at $9.66 to $10.26. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the Under Armour, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the UAA shares have declined. Short interest in the stock represents just 5.02% of its float, but the volume has dropped by 0.
In the last trading session, Under Armour, Inc. (NYSE:UAA) raised by $0.08 over the week and gained $0.32 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $21.96. The stock recorded its established 52-week high on 01/03/20.
Since 05/14/20, the stock has traded to a low of $7.15 at 43.36%, 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 1.18. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Under Armour, Inc.’s two-week RSI is 50.46. This suggests that the stock is neutral at the moment and that UAA shares’ price movement remains stable. The stochastic readings are equally revealing at 26.07% meaning the UAA share price is currently in overbought territory.
The technical chart shows that the UAA stock will likely settle at between $10.45 and $10.66 per share. However, if the stock dips below $9.85, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.46.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. 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 Susquehanna raised their recommendation for UAA from Negative to Neutral in August 03 review. Telsey Advisory Group analysts see the stock as a Market Perform, but they also dropped the share’s target price from $8 to $11 in a flash note released to investors on August 03. Pivotal Research Group analysts see the stock as Hold. Nonetheless, the analysts revised the share prices down on May 07, placing it at $10 from $17.
The average rating for the UAA equity is 2.97 and is currently gathering a bullish momentum. Of 34 analysts tracking Under Armour, Inc. polled by Reuters, 26 rated UAA as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the UAA stock price is 99.51X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Under Armour, Inc. (NYSE:UAA) will increase by about 62.89%, which will see them reach $1150 million. The company’s full-year revenues are, however, expected to diminish by about -26.38%, down from $5270 million to $3880 million. UAA’s expected adjusted earnings should drop almost -95.65% to end up at $0.01 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -320.59% to record -$0.75/share.