Fact Check: What’s wrong with American Electric Technologies, Inc (AETI) today

The biggest losers of the session on the Wall Street include American Electric Technologies, Inc (NASDAQ:AETI), which fell -0.03 points or -3.99% to trade at $0.64 as last check. The stock closed last session at $0.67 and sets an active trading volume day with a reported 117673 contracts so far this session. AETI shares had a relatively better volume day versus average trading capacity of 559.24 thousand shares, but with a 5.59 million float and a -41.8% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AETI stock indicates that the average analyst price target is $3.3 per share. This means the stock has a potential increase of 415.63% from where the AETI share price has been trading recently which is between $0.641 and $0.6834.

The shorts are running away from American Electric Technologies, Inc (AETI) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in AETI shares. While short interest still represents only 4.85% of AETI’s float, the number of shares shorted have fallen by -12206. The number of shares shorted fell to 258980 shares, down from 271186 shares during the preceding fortnight. With average daily trading volumes at 95413 shares, days to cover decreased to about 3.955917 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “American Electric Technologies Announces Filing of Preliminary Proxy Statement Related to Share Exchange Transaction With Stabilis Energy and Amendment to Share Exchange Agreement” and dated May 09, 2019.

During the recent trading session for American Electric Technologies, Inc (NASDAQ:AETI), the company witnessed their stock drop by $-0.23 over a week and tumble down $-0.18 from the price 20 days ago. When compared to their established 52-week high of $2.53, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/04/18. The recent low of $0.4 stood for a -74.6% since 11/30/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -1.62 is also allocated to the stock. Since the beta is less 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 American Electric Technologies, Inc, the two-week RSI stands at 39.08. This figure suggests that AETI 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 AETI readings is similarly very revealing as it has a stochastic reading of 1.58% at this stage. This figure means that AETI share price today is being overbought.

Technical chart claims that American Electric Technologies, Inc (AETI) would settle between $0.69/share to $0.71/share level. However, if the stock price goes below the $0.65 mark, then the market for American Electric Technologies, Inc becomes much weaker. If that happens, the stock price might even plunge as low as $0.62 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.12. 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.

Analysts at Singular Research, assumed coverage of AETI assigning Buy rating, according to their opinion released on August 28.

Moving on, AETI stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.34 while for the average stock in the same group, the multiple is 5.01.