Here’s Why Chart Industries, Inc. (GTLS) Stock Declined -3.6% Today

The biggest losers of the session on the Wall Street include Chart Industries, Inc. (NASDAQ:GTLS), which fell -2.96 points or -3.6% to trade at $79.22 as last check. The stock closed last session at $82.18 and sets an active trading volume day with a reported 289097 contracts so far this session. GTLS shares had a relatively better volume day versus average trading capacity of 405.41 thousand shares, but with a 29.74 million float and a -11.79% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GTLS stock indicates that the average analyst price target is $110.67 per share. This means the stock has a potential increase of 39.7% from where the GTLS share price has been trading recently which is between $81.785 and $84.32. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $109.

The shorts are climbing into Chart Industries, Inc. (GTLS) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in GTLS shares. While short interest still represents only 7.3% of GTLS’s float, the number of shares shorted have risen by 242248. The number of shares shorted advanced to 2415045 shares, up from 2172797 shares during the preceding fortnight. With average daily trading volumes at 553384 shares, days to cover decreased to about 6.261158 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “10 Small-Cap Value Stocks Analysts Love the Most” and dated May 16, 2019.

During the recent trading session for Chart Industries, Inc. (NASDAQ:GTLS), the company witnessed their stock drop by $-11.79 over a week and tumble down $-7.93 from the price 20 days ago. When compared to their established 52-week high of $95.66, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/22/19. The recent low of $57.88 stood for a -17.19% since 12/19/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.08 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 Chart Industries, Inc., the two-week RSI stands at 34.45. This figure suggests that GTLS 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 GTLS readings is similarly very revealing as it has a stochastic reading of 5.31% at this stage. This figure means that GTLS share price today is being overbought.

Technical chart claims that Chart Industries, Inc. (GTLS) would settle between $83.74/share to $85.3/share level. However, if the stock price goes below the $81.2 mark, then the market for Chart Industries, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $80.23 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -4.15. 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 Gabelli & Co lowered their recommendation on shares of GTLS from Buy to Hold in their opinion released on February 15. Evercore ISI analysts bumped their rating on Chart Industries, Inc. (NASDAQ:GTLS) stock from In-line to Outperform in a separate flash note issued to investors on December 03. Analysts at Lake Street are sticking to their Buy stance. However, on June 08, they lifted price target for these shares to $90 from $71.

GTLS equity has an average rating of 2.12, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Chart Industries, Inc. (NASDAQ:GTLS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, GTLS stock price is currently trading at 18.43X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.45 while for the average stock in the same group, the multiple is 4.27. Chart Industries, Inc. current P/E ratio of 109.54 means it is trading at a premium against its industry’s 24.83. In the past 5 years, this ratio for the stock has been fluctuating between 12.81 and 39.54.