Richardson Electronics, Ltd. (NASDAQ:RELL) shares, rose in value on Wednesday, Apr 07, with the stock price up by 7.3% to the previous day’s close as strong demand from buyers drove the stock to $7.5.
Actively observing the price movement in the last trading, the stock closed the session at $6.99, falling within a range of $7.02 and $7.94. The value of beta (5-year monthly) was 0.52 whereas the PE ratio was 0 over 12-month period. Referring to stock’s 52-week performance, its high was $8.39, and the low was $3.61. On the whole, RELL has fluctuated by 14.16% over the past month.
Analysts have estimated the company’s revenue for the quarter at $37.36 Million, with a low estimate of $43.7 Million and a high estimate of $43.7 Million. According to the average forecast, sales growth in current quarter could fell down -11.4%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2021, the company’s y-o-y revenues would reach $155.9 Million, representing a decline of -6.5% from the revenues reported in the last year’s results.
We see that RELL’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
1 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 1 analyst(s), no one recommend it as a Buy and no body called the RELL stock Outperform. In the meantime, none analyst(s) believe the stock as Underperform and none think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RELL currently trading nearly 12.81% and 14.39% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.21, while the 7-day volatility ratio is showing 6.58% which for the 30-day chart, stands at 5.52%. Furthermore, Richardson Electronics, Ltd. (RELL)’s beta value is 0.52, and its average true range (ATR) is 0.39. The company’s stock has been forecasted to trade at an average price of $12.5 over the course of the next 52 weeks, with a low of $12.5 and a high of $12.5. Based on these price targets, the low is 66.67 off current price, whereas the price has to move +66.67% to reach the yearly target high. Additionally, analysts’ median price of $12.5 is likely to be welcomed by investors because it represents an increase of +66.67% from the current levels.
A comparison of Richardson Electronics, Ltd. (RELL) with its peers suggests the former has fared considerably better in the market. RELL showed an intraday change of +7.3% in last session, and over the past year, it grew by +107.76%. In comparison, Arrow Electronics (ARW) has moved lower at -0.84% on the day and was up +104.93% over the past 12 months. On the other hand, the price of Wesco International (WCC) has fallen -3.14% on the day. The stock, however, is off 249.32% from where it was a year ago. Additionally, there is a gain of 730% for Avnet Inc (AVT) in last trading while the stock has seen an overall apprecation of 107.76% over the past year. The PE ratio stands at 0 for Richardson Electronics, Ltd., compared to 15.2 for Arrow Electronics, and 60.46 for Wesco International. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.15%. Meanwhile, the Dow Jones Industrial improved by 0.05%.
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Data on historical trading for Richardson Electronics, Ltd. (NASDAQ:RELL) indicates that the trading volumes over the past 10 days have averaged 19.12 Million and over the past 3 months, they’ve averaged 123.42 Million. According to company’s latest data on outstanding shares, there are 11.11 Million shares outstanding.
Nearly 9.3% of Richardson Electronics, Ltd.’s shares belong to company insiders and institutional investors own 60.37% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 37.87 Million shares as on March 14, 2021, resulting in a short ratio of 0.31. According to the data, the short interest in Richardson Electronics, Ltd. (RELL) stood at 0.29% of shares outstanding as of March 14, 2021; the number of short shares registered in February reached 20.92 Million. The stock has risen by +59.24% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RELL stock heading into the next quarter.