The stock of WW International, Inc. (NASDAQ:WW) is now priced at $22.89 and the shares are -0.59 points down or -2.51% lower compared to its previous closing price of $23.48. The stock had 1.2 million contracts set over the past session. WW shares’ daily volume is compared to its average trading volume at 1.321 million shares. However, it has a float of 46.4 million and although its performance was -3.09% over the week, it’s one to watch. Analysts have given the WW stock a yearly average price target of $31.42 per share. It means the stock’s upside potential is 37.27% with the WW share price recently placing at $22.675 to $23.34. However, some brokerage firms have priced the stock below the average, including one that has called $24.
The shorts are climbing into the WW International, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the WW shares have risen. Short interest in the stock represents just 9.25% of its float, but the volume has raised by 914487. The volume of shorted shares rised to 4.292 million from 3.377 million shares over the last two weeks. The average intraday trading volume has been 1.33 million shares, which means that days to cover moved to roughly 3.226076.
In the last trading session, WW International, Inc. (NASDAQ:WW) dropped by -$0.73 over the week and lost -$3.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $47.19. The stock recorded its established 52-week high on 01/08/20.
Since 03/18/20, the stock has traded to a low of $9.75 at 134.77%, 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 2.85. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, WW International, Inc.’s two-week RSI is 40.17. This suggests that the stock is neutral at the moment and that WW shares’ price movement remains stable. The stochastic readings are equally revealing at 32.56% meaning the WW share price is currently in neutral territory.
The technical chart shows that the WW stock will likely settle at between $23.26 and $23.63 per share. However, if the stock dips below $22.6, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $22.3.
Currently, the stock is trading in the red of MACD, with a reading of -0.02. 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 DA Davidson though raised target price of WW stock from $34 to $39 but maintained Buy recommendation in their June 16 review. Guggenheim analysts see the stock as a Buy in a flash note released to investors on June 12 initiating covering the stock. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on May 13, placing it at $32.
The average rating for the WW equity is 2.36 and is currently gathering a bullish momentum. Of 14 analysts tracking WW International, Inc. polled by Reuters, 6 rated WW as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (7) 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 WW stock price is 10.55X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 18.9 below the group’s average of 66.3. WW International, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 8.7 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for WW International, Inc. (NASDAQ:WW) will decrease by about -99.9%, which will see them reach $325 million. The company’s full-year revenues are, however, expected to diminish by about -1.42%, down from $1410 million to $1390 million. WW’s expected adjusted earnings should drop almost -7.35% to end up at $0.63 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -3.91% to record $1.72/share.