Big changes are happening at Appliance Recycling Centers of America, Inc. (NASDAQ:ARCI), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -1.67% or (-0.01 points) to $0.59 from its previous close of $0.6. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 180738 contracts so far this session. ARCI shares had a relatively better volume day versus average trading capacity of 207 thousand shares, but with a 4.57 million float and a 21.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ARCI stock indicates that the average analyst price target is $4 per share. This means the stock has a potential increase of 577.97% from where the ARCI share price has been trading recently which is between $0.5201 and $0.62.
The shorts are running away from Appliance Recycling Centers of America, Inc. (ARCI) stock. The latest set of short interest data was released on 29 March 2019, and the numbers show a drop in short interest in ARCI shares. While short interest still represents only 3.19% of ARCI’s float, the number of shares shorted have fallen by -59692. The number of shares shorted fell to 86049 shares, down from 145741 shares during the preceding fortnight. With average daily trading volumes at 262957 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Rep. Ocasio-Cortez unveils new deal; focuses on the environment” and dated February 07, 2019.
During the recent trading session for Appliance Recycling Centers of America, Inc. (NASDAQ:ARCI), the company witnessed their stock rise $0.08 over a week and surge $0.01 from the price 20 days ago. When compared to their established 52-week high of $1.68, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/09/18. The recent low of $0.36 stood for a -64.9% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.11 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Appliance Recycling Centers of America, Inc., the two-week RSI stands at 59.01. This figure suggests that ARCI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ARCI readings is similarly very revealing as it has a stochastic reading of 74.84% at this stage. This figure means that ARCI share price today is being oversold.
Technical chart claims that Appliance Recycling Centers of America, Inc. (ARCI) would settle between $0.64/share to $0.68/share level. However, if the stock price goes below the $0.54 mark, then the market for Appliance Recycling Centers of America, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.48 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Moving on, ARCI stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.07 while for the average stock in the same group, the multiple is 3.29. Appliance Recycling Centers of America, Inc. current P/E ratio of 1.33 means it is trading at a discount against its industry’s 28.39. In the past 5 years, this ratio for the stock has been fluctuating between 5.29 and 19.98.