Western Digital Corp (NASDAQ:WDC) price on current trading day, fall -0.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $64.43.
A look at the stock’s price movement, the level at last check in today’s session was $64.48, moving within a range at $64.02 and $65.55. The beta value (5-Year monthly) was 1.394 while the PE ratio in trailing twelve months stood at 15.37. Turning to its 52-week performance, $81.55 and $52.77 were the 52-week high and 52-week low respectively. Overall, WDC moved -0.68% over the past month.
Western Digital Corp’s market cap currently stands at around $22.41 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 3.86B for the company’s revenue for the quarter, with a low and high estimate of 3.8B and 3.94B respectively. The average forecast suggests up to a 11.60% 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 16.31B, representing a 25.40% jump 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 WDC is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
19 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 3 analyst(s) rate the stock as a Hold, 16 recommend WDC 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.
WDC’s current price about -0.61% and -1.88% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.89, while 7-day volatility ratio is 3.44% and 3.39% in the 30-day chart. Further, Western Digital Corp (WDC) has a beta value of 1.42, and an average true range (ATR) of 2.34. Analysts have given the company’s stock an average 52-week price target of $85, forecast between a low of $82 and high of $85. Looking at the price targets, the low is -27.27% off recent price level in today’s trading while to achieve the yearly target high, it has to move -31.93%. Nonetheless, investors will most likely welcome a -31.93% jump to $85 which is the analysts’ median price.
If we refocus on Western Digital Corp (NASDAQ:WDC), historical trading data shows that trading volumes averaged 7.63 over the past 10 days and 5.73 million over the past 3 months. The company’s latest data on shares outstanding shows there are 348.00 million shares.
The 0.49% of Western Digital Corp’s shares are in the hands of company insiders while institutional holders own 94.35% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 21.87 million on 2025-01-15, giving us a short ratio of 4.18. The data shows that as of 2025-01-15 short interest in Western Digital Corp (WDC) stood at 714.0 of shares outstanding, with shares short rising to 20.85 million registered in 2024-12-13. Current price change has pushed the stock 8.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WDC stock continues to rise going into the next quarter.
