Today’s big question for investors is, “what’s going on with Wright Medical Group N.V. (NASDAQ:WMGI) stock? Its price is jumping 0.81 points, trading at $20.22 levels, and is up 4.17% from its previous close of $19.41. The shares seem to have an active trading volume day with a reported 1562416 contracts so far this session. WMGI shares had a relatively better volume day versus average trading capacity of 2.58 million shares, but with a 0.13 billion float and a -2.22% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WMGI stock indicates that the average analyst price target is $28.47 per share. This means the stock has a potential increase of 40.8% from where the WMGI share price has been trading recently which is between $19.11 and $19.7.
During the recent trading session for Wright Medical Group N.V. (NASDAQ:WMGI), the company witnessed their stock drop by $-0.25 over a week and tumble down $-0.68 from the price 20 days ago. When compared to their established 52-week high of $32.86, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/03/19. The recent low of $19.04 stood for a -38.47% since 09/24/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.78 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 Wright Medical Group N.V., the two-week RSI stands at 48.56. This figure suggests that WMGI 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 WMGI readings is similarly very revealing as it has a stochastic reading of 35.15% at this stage. This figure means that WMGI share price today is being neutral.
Technical chart claims that Wright Medical Group N.V. (WMGI) would settle between $19.7/share to $20/share level. However, if the stock price goes below the $19.11 mark, then the market for Wright Medical Group N.V. becomes much weaker. If that happens, the stock price might even plunge as low as $18.82 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.14. 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 Wells Fargo lowered their recommendation on shares of WMGI from Outperform to Market Perform in their opinion released on August 12. BofA/Merrill analysts have lowered their rating of Wright Medical Group N.V. (NASDAQ:WMGI) stock from Buy to Neutral in a separate flash note issued to investors on August 09. Analysts at RBC Capital Mkts lowered the stock to a Sector Perform call from its previous Outperform recommendation, in a research note that dated back to August 08.
WMGI equity has an average rating of 2.33, with the figure leaning towards a bullish end. 15 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 12 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. 12 analysts rated Wright Medical Group N.V. (NASDAQ:WMGI) 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, WMGI stock price is currently trading at 45.67X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 47.9. Wright Medical Group N.V. current P/B ratio of 2.7 means it is trading at a discount against its industry’s 4.5.