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Is HP Inc. (NYSE: HPQ) Still Hot This Week?

HP Inc. (NYSE:HPQ) traded at $29.24 at last check on Tuesday, November 22, made an upward move of 0.27% on its previous day’s price.

Looking at the stock we see that its previous close was $29.16 and the beta (5Y monthly) reads 1.00 with the day’s price range being $28.68 – $29.30. The company has a trailing 12-month PE ratio of 5.08. In terms of its 52-week price range, HPQ has a high of $41.47 and a low of $24.08. The company’s stock has gained about 8.85% over that past 30 days.

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HP Inc. has a market cap of $29.28 billion and is expected to release its quarterly earnings report on Nov 22, 2022. With its Forward Dividend at 1.00 and a yield of 3.43%, the company’s investors could be anxious for the HPQ stock to gain ahead of the earnings release.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the HPQ stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 18 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 13 have rated the HP Inc. (HPQ) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 3 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the HPQ stock currently stands at 3.35, and the most recent price level today is 2.36% off its SMA20 and 8.43% from its 50-day simple moving average. The RSI (14) is pointing at 56.24 while the volatility over the past week is 3.13% and jumps to 3.00% over the past one month. The beta value is 1.01, while the average true range (ATR) is currently pointing at 1.01. The average price target for the stock over the next 12 months is $29.39, with the estimates having a low of $24.00 and a high of $33.00. These price ends are 17.92% and -12.86% off the today’s price level respectively, although investors could be excited at the prospect of a -2.6% if the HPQ share price touches on the median price of $30.00.

Let’s briefly compare HP Inc. (HPQ) stock to its peers. We find that today’s price change of 0.27% and -7.28% over the past 12 months for HPQ competes that of Apple Inc. (AAPL), which has seen its stock price rise 0.42% in the latest trading session and is -7.81% over the last one year. Another of its peers Dell Technologies Inc. (DELL) has gained 3.82% today, and was -25.35% down over the past year. HP Inc. has a P/E ratio of 5.08 compared to Apple Inc.’s 24.26 and Dell Technologies Inc.’s 6.70. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.72% and 0.82%, respectively, in early deals.

Coming back to HP Inc. (NYSE:HPQ), we note that the average 3-month trading volume was 9.71 million, while that of the preceding 10-day period stands at 9.53 million. Current shares outstanding are 1.02 billion.

The insiders hold 0.10% of the company’s shares while institutions hold 81.80%. The data shows that short shares as of Oct 30, 2022, stood at 31.91 million at a short ratio of 4.06. This represents a 3.17% short interest in shares outstanding on Oct 30, 2022. Shares short fall in October from the previous month at 35.34 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -22.59% down in year-to-date price movement.

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