An interesting stock that came up in some of our conversations today is Carrols Restaurant Group, Inc. (NASDAQ:TAST). At current price of $7.09, the shares have already lost -0.43 points (-5.65% lower) from its previous close of $7.52. Should you buy or avoid them? The stock sets an active trading volume day with a reported 276609 contracts so far this session. TAST shares had a relatively better volume day versus average trading capacity of 363.87 thousand shares, but with a 34.59 million float and a -13.26% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TAST stock indicates that the average analyst price target is $13.2 per share. This means the stock has a potential increase of 86.18% from where the TAST share price has been trading recently which is between $7.33 and $7.83. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $11.
The shorts are climbing into Carrols Restaurant Group, Inc. (TAST) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in TAST shares. While short interest still represents only 7.44% of TAST’s float, the number of shares shorted have risen by 342219. The number of shares shorted advanced to 2913875 shares, up from 2571656 shares during the preceding fortnight. With average daily trading volumes at 289525 shares, days to cover decreased to about 10.31021 days. The most recent news story about the stock that appeared in Yahoo Finance ‘s news section was titled “Continental Grain Co Buys Carrols Restaurant Group Inc, Sells Northeast Bank” and dated August 12, 2019.
During the recent trading session for Carrols Restaurant Group, Inc. (NASDAQ:TAST), the company witnessed their stock drop by $-1.56 over a week and tumble down $-1.7 from the price 20 days ago. When compared to their established 52-week high of $16.4, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/23/18. The recent low of $7.11 stood for a -56.74% since 08/14/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.51 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 Carrols Restaurant Group, Inc., the two-week RSI stands at 29.62. This figure suggests that TAST 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 TAST readings is similarly very revealing as it has a stochastic reading of 3.67% at this stage. This figure means that TAST share price today is being overbought.
Technical chart claims that Carrols Restaurant Group, …read more
Source:: Daily times