CarGurus has been one of the top stocks seeing losses, recently dropping 2.36%. Do these recent drops now mean that the stock is worth investing in? The stock does trade at a higher volume than average, even with their losses, and the company may be worth keeping track of.
The one year price forecast for CARG stock indicates that the average analyst price target is $51.2 per share. This means the stock has a potential increase of 34.74% from where the CARG share price has been trading recently which is between $38.4275 and $39.59. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $48.
The shorts are climbing into CarGurus, Inc. (CARG) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in CARG shares. While short interest still represents only 10.23% of CARG’s float, the number of shares shorted have risen by 3492715. The number of shares shorted advanced to 9659120 shares, up from 6166405 shares during the preceding fortnight. With average daily trading volumes at 1233848 shares, days to cover decreased to about 9.238641 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “CarGurus, Inc. Q1 2019 Earnings Call Transcript” and dated May 10, 2019.
During the recent trading session for CarGurus, Inc., the company witnessed their stock drop by $-1.8 over a week and surge $0.63 from the price 20 days ago. When compared to their established 52-week high of $57.25, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/26/18. The recent low of $30.29 stood for a -33.62% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 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.
Read more here