What just happened? Atlas Financial Holdings, Inc. (NASDAQ:AFH) stock value has climbed by nearly 3.95% or (0.04 points) to $0.92 from its previous close of $0.88. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 234337 contracts so far this session. AFH shares had a relatively better volume day versus average trading capacity of 709.25 thousand shares, but with a 9.97 million float and a -4.88% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AFH stock indicates that the average analyst price target is $2.25 per share. This means the stock has a potential increase of 144.57% from where the AFH share price has been trading recently which is between $0.8701 and $0.93. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.25.
The shorts are climbing into Atlas Financial Holdings, Inc. (AFH) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in AFH shares. While short interest still represents only 3.07% of AFH’s float, the number of shares shorted have risen by 121701. The number of shares shorted advanced to 427438 shares, up from 305737 shares during the preceding fortnight. With average daily trading volumes at 530200 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 “ATLAS INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 Investing In Atlas Financial Holdings, Inc. To Contact The Firm” and dated May 09, 2019.
During the recent trading session for Atlas Financial Holdings, Inc. (NASDAQ:AFH), the company witnessed their stock rise $0.03 over a week and tumble down $-0.64 from the price 20 days ago. When compared to their established 52-week high of $12.21, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/08/18. The recent low of $0.81 stood for a -92.46% since 05/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.73 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 Atlas Financial Holdings, Inc., the two-week RSI stands at 29.57. This figure suggests that AFH 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 AFH readings is similarly very revealing as it has a stochastic reading of 10.6% at this stage. This figure means that AFH share price today is being overbought.
Technical chart claims that Atlas Financial Holdings, Inc. (AFH) would settle between $0.92/share to $0.95/share level. However, if the stock price goes below the $0.86 mark, then the market for Atlas Financial Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.84 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.01. 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 Sandler O’Neill lowered their recommendation on shares of AFH from Buy to Hold in their opinion released on March 12. Boenning & Scattergood analysts have lowered their rating of Atlas Financial Holdings, Inc. (NASDAQ:AFH) stock from Outperform to Neutral in a separate flash note issued to investors on March 02. Analysts at Boenning & Scattergood, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to June 13.
Moving on, AFH stock price is currently trading at 1.36X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.14 while for the average stock in the same group, the multiple is 3.07. Atlas Financial Holdings, Inc. current P/E ratio of 50.08 means it is trading at a premium against its industry’s 25.03. In the past 5 years, this ratio for the stock has been fluctuating between 20.44 and 151.73.