With a current price of $1.75, Martin Midstream Partners L.P. [NASDAQ:MMLP] is active in the Oil & Gas Midstream industry, with a 5-day price swing of 18.26%.
For the year, the stock is trading -66.25%, while, as a point of reference, the S&P 500 is trading 0.5% YTD. Other data to note on this name is a price per sales number of 0.06 and a price per cash flow number of 1.64.
The Price is right
Holding a Market Cap of $45.37 million, Martin Midstream Partners L.P. has seen a trading range over the last year of $0.90-$5.62.
For the last five days, MMLP is up from its last closing price. The average shares trading hands each day is 304.76K, with average 10-day volume coming in at 0.2 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for MMLP. When we apply the Elder Force Index to Martin Midstream Partners L.P., we are seeing an Elder Force Indicator number of 503180.73.
Recent Performance
The company’s enterprise value has gone from $607.64M to $641.52M quarter-over-quarter. This could be an inflection point for the company, but either way we believe you should be adding them to your watchlist.
In the last quarter, MMLP made a profit of 77.35 million. Martin Midstream Partners L.P. also saw quarter revenue growth year over year of -16.96%. In addition, the company has operating cash flow of $87.93 million.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 1.3680 compared to the 50-day moving average of 1.3589. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. MMLP currently holds a 9-day RSI of 76.81%, while 100-day RSI stands at 45.99%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. MMLP’s 9-day MACD is 0.1233 and the company’s 100-day MACD stands at -0.4548.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 17.88% by insiders and 26.37% by institutions. Regarding institutional holdings, Invesco Ltd. owns 21.22%, while the second top holder, JP Morgan Chase & Company, currently owns 2.58%.
Over the last six months, insiders have bought 824 with the most recent transaction from Shoup Scot A, Senior VP Operations, with a purchase at price 1.39 per share.
Conclusion
Overall, the recommended rating for MMLP is Hold. Currently, the company has 2 analysts watching the stock, and the average quarterly earnings estimate is -0.24. Quarterly revenue estimates are averaging 106.12M with the high estimate reaching 176.8M and the low at 35.43M.
To review, the current 1-year target estimate is sitting at 2.00, while the current price 1.75. Based on this, we expect the stock to rise considering the aforementioned fundamentals.
