ChampionX Corp (NASDAQ:CHX) price on current trading day, rose 8.13% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $31.52.
A look at the stock’s price movement, the level at last check in today’s session was $29.15, moving within a range at $29.44 and $31.69. The beta value (5-Year monthly) was 2.39 while the PE ratio in trailing twelve months stood at 19.47. Turning to its 52-week performance, $39.95 and $25.46 were the 52-week high and 52-week low respectively. Overall, CHX moved 11.22% over the past month.
ChampionX Corp’s market cap currently stands at around $6.00 billion, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 0.38, with its dividend yield at 1.21%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 942.11M for the company’s revenue for the quarter, with a low and high estimate of 893.5M and 1.01B respectively. The average forecast suggests down to a -0.15% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.68B, representing a -1.97% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CHX is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 2 recommend CHX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CHX’s current price about 14.82% and 8.28% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 74.92, while 7-day volatility ratio is 3.09% and 2.80% in the 30-day chart. Further, ChampionX Corp (CHX) has a beta value of 2.35, and an average true range (ATR) of 0.89. Analysts have given the company’s stock an average 52-week price target of $40, forecast between a low of $24 and high of $51. Looking at the price targets, the low is 23.86% off recent price level in today’s trading while to achieve the yearly target high, it has to move -61.8%. Nonetheless, investors will most likely welcome a -26.9% jump to $40 which is the analysts’ median price.
If we refocus on ChampionX Corp (NASDAQ:CHX), historical trading data shows that trading volumes averaged 2.57 over the past 10 days and 1.86 million over the past 3 months. The company’s latest data on shares outstanding shows there are 190.52 million shares.
The 0.92% of ChampionX Corp’s shares are in the hands of company insiders while institutional holders own 91.24% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.5 million on 2024-12-31, giving us a short ratio of 4.33. The data shows that as of 2024-12-31 short interest in ChampionX Corp (CHX) stood at 515.99998 of shares outstanding, with shares short rising to 6.84 million registered in 2024-11-29. Current price change has pushed the stock 15.92% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CHX stock continues to rise going into the next quarter.
