Big changes are happening at Commercial Vehicle Group, Inc. (NASDAQ:CVGI), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -4.42% or (-0.34 points) to $7.24 from its previous close of $7.58. 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 103947 contracts so far this session. CVGI shares had a relatively better volume day versus average trading capacity of 294.36 thousand shares, but with a 30.13 million float and a -1.43% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CVGI stock indicates that the average analyst price target is $9.5 per share. This means the stock has a potential increase of 31.22% from where the CVGI share price has been trading recently which is between $7.4 and $7.63.
The shorts are running away from Commercial Vehicle Group, Inc. (CVGI) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in CVGI shares. While short interest still represents only 1.53% of CVGI’s float, the number of shares shorted have fallen by -134868. The number of shares shorted fell to 325573 shares, down from 460441 shares during the preceding fortnight. With average daily trading volumes at 275159 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of CVGI earnings conference call or presentation 7-May-19 12:00pm GMT” and dated May 13, 2019.
During the recent trading session for Commercial Vehicle Group, Inc. (NASDAQ:CVGI), the company witnessed their stock drop by $-0.39 over a week and tumble down $-2 from the price 20 days ago. When compared to their established 52-week high of $10.28, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/28/18. The recent low of $5.35 stood for a -29.52% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.44 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 Commercial Vehicle Group, Inc., the two-week RSI stands at 28.95. This figure suggests that CVGI stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CVGI readings is similarly very revealing as it has a stochastic reading of 13.08% at this stage. This figure means that CVGI share price today is being overbought.
Technical chart claims that Commercial Vehicle Group, Inc. (CVGI) would settle between $7.67/share to $7.77/share level. However, if the stock price goes below the $7.44 mark, then the market for Commercial Vehicle Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $7.31 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.22. 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 Seaport Global Securities, assumed coverage of CVGI assigning Buy rating, according to their opinion released on December 11. Seaport Global Securities analysts bumped their rating on Commercial Vehicle Group, Inc. (NASDAQ:CVGI) stock from Neutral to Buy in a separate flash note issued to investors on March 30. Analysts at Seaport Global Securities lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to July 06.
Moving on, CVGI stock price is currently trading at 8.81X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.35 while for the average stock in the same group, the multiple is 1.53. Commercial Vehicle Group, Inc. current P/E ratio of 100.6 means it is trading at a premium against its industry’s 28.92. In the past 5 years, this ratio for the stock has been fluctuating between 4.66 and 25.42.