Capital Product Partners L.P. (NASDAQ:CPLP) is one of the best performers on the stock market today. At current price of $11.86, the shares have already added 0.45 points (3.94% higher) from its previous close of $11.41. Should you buy or avoid them? The stock sets an active trading volume day with a reported 100151 contracts so far this session. CPLP shares had a relatively better volume day versus average trading capacity of 89.68 million shares, but with a 13.65 million float and a 8.25% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CPLP stock indicates that the average analyst price target is $13.8 per share. This means the stock has a potential increase of 16.36% from where the CPLP share price has been trading recently which is between $11.1 and $11.44.
During the recent trading session for Capital Product Partners L.P. (NASDAQ:CPLP), the company witnessed their stock rise $1.03 over a week and surge $1.07 from the price 20 days ago. When compared to their established 52-week high of $19.88, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/22/18. The recent low of $9.68 stood for a -0.34% since 05/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.1 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 Capital Product Partners L.P., the two-week RSI stands at 80.98. This figure suggests that CPLP stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CPLP readings is similarly very revealing as it has a stochastic reading of 88.06% at this stage. This figure means that CPLP share price today is being oversold.
Technical chart claims that Capital Product Partners L.P. (CPLP) would settle between $11.53/share to $11.66/share level. However, if the stock price goes below the $11.19 mark, then the market for Capital Product Partners L.P. becomes much weaker. If that happens, the stock price might even plunge as low as $10.98 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.43. 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 B. Riley FBR lifted target price for shares of CPLP but were stick to Buy recommendation for the stock in their opinion released on April 04. The price target has been raised from $12.25 to $14. Wells Fargo analysts have lowered their rating of Capital Product Partners L.P. (NASDAQ:CPLP) stock from Outperform to Market Perform in a separate flash note issued to investors on January 10. Analysts at B. Riley FBR, made their first call for the equity with a Buy recommendation, according to a research note that dated back to December 04.
CPLP equity has an average rating of 2.06, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 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. 4 analysts rated Capital Product Partners L.P. (NASDAQ:CPLP) 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.
Capital Product Partners L.P. (CPLP)’s current-quarter revenues are projected to climb by nearly -63.4% to hit $26.87 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -61.6% from $279250 to a noteworthy $107140. At the other end of the current quarter income statement, Capital Product Partners L.P. is expected to see its adjusted earnings surge by roughly 129.3% to hit $0.41 per share. For the fiscal year, CPLP’s earnings are projected to climb by roughly 281% to hit $1.14 per share.