Fortrea Holdings Inc (NASDAQ:FTRE) price on current trading day, fall -3.94% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.26.
A look at the stock’s price movement, the close in the last trading session was $9.64, moving within a range at $9.2 and $9.7. Turning to its 52-week performance, $41.02 and $9.47 were the 52-week high and 52-week low respectively. Overall, FTRE moved -39.16% over the past month.
Fortrea Holdings Inc’s market cap currently stands at around $835.25 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Mar-02.
Analysts have a consensus estimate of 610.91M for the company’s revenue for the quarter, with a low and high estimate of 593.9M and 620.5M respectively. The average forecast suggests down to a -7.73% 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 2.5B, representing a -7.45% 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 FTRE 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.
7 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, 4 recommend FTRE 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.
FTRE’s current price about -21.29% and -37.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 22.05, while 7-day volatility ratio is 4.58% and 7.21% in the 30-day chart. Further, Fortrea Holdings Inc (FTRE) has a beta value of 1.73, and an average true range (ATR) of 0.80. Analysts have given the company’s stock an average 52-week price target of $12, forecast between a low of $12 and high of $12. Looking at the price targets, the low is -29.59% off current price level while to achieve the yearly target high, price needs to move -29.59%. Nonetheless, investors will most likely welcome a -29.59% jump to $12 which is the analysts’ median price.
If we refocus on Fortrea Holdings Inc (NASDAQ:FTRE), historical trading data shows that trading volumes averaged 2.4 over the past 10 days and 1.51 million over the past 3 months. The company’s latest data on shares outstanding shows there are 90.20 million shares.
The 0.35% of Fortrea Holdings Inc’s shares are in the hands of company insiders while institutional holders own 104.50% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.89 million on 2025-02-28, giving us a short ratio of 5.34. The data shows that as of 2025-02-28 short interest in Fortrea Holdings Inc (FTRE) stood at 1100.0 of shares outstanding, with shares short rising to 6.1 million registered in 2025-01-31. Current price change has pushed the stock -50.35% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the FTRE stock continues to rise going into the next quarter.
