Parsons Corp (NYSE:PSN) shares, rose in value, with the stock price up by 1.87% to the previous day’s close as strong demand from buyers drove the stock to $107.05.
Actively observing the price movement in the last trading, the stock closed the session at $105.08, falling within a range of $104.96 and $107.09. The value of beta (5-year monthly) was 0.803 whereas the PE ratio was 252.18 over 12-month period. Referring to stock’s 52-week performance, its high was $107.67, and the low was $55.22. On the whole, PSN has fluctuated by 12.14% over the past month.
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With the market capitalization of Parsons Corp currently standing at about $11.37 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-30.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 6.53B, with a low estimate of 1.58B and a high estimate of 1.71B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.64B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that PSN’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.
The stock’s technical analysis shows that the PEG ratio is about 15.69, with the price of PSN currently trading nearly 3.69% and 9.94% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 71.20, while the 7-day volatility ratio is showing 1.71% which for the 30-day chart, stands at 1.82%. Furthermore, Parsons Corp (PSN)’s beta value is 0.80, and its average true range (ATR) is 1.88.
A comparison of Parsons Corp (PSN) with its peers suggests the former has fared considerably weaker in the market. PSN showed an intraday change of 1.87% in last session, and over the past year, it grew by 85.46%%.
Data on historical trading for Parsons Corp (NYSE:PSN) indicates that the trading volumes over the past 10 days have averaged 0.78 and over the past 3 months, they’ve averaged 959.19K. According to company’s latest data on outstanding shares, there are 105.84 million shares outstanding.
Nearly 0.94% of Parsons Corp’s shares belong to company insiders and institutional investors own 98.68% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.39 million shares as on 2024-09-30, resulting in a short ratio of 2.84. According to the data, the short interest in Parsons Corp (PSN) stood at 735.00 of shares outstanding as of 2024-09-30; the number of short shares registered in 2024-08-30 reached 2.28 million. The stock has risen by 70.71% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PSN stock heading into the next quarter.
