PermRock Royalty Trust [NYSE:PRT] price is worthing noting Friday. The current price is $2.10 with a high of $2.46 and $1.7717. Analysts see the the current price target is $3.00.
To ground this price against the rest of the market, over the last two 52 weeks, the company is trading -71.19%, while the S&P 500 is trading 0.87%. Traders should note that the company’s next earning date is 12/02/2020. The company has price per sales of 3.08.
The Price is right
Holding a Market Cap of $21.90 million, PermRock Royalty Trust has seen a trading range over the last year of $1.00-$8.00.
For the last five days, PRT is up from its last closing price. The average shares trading hands each day is 25.28K, with average 10-day volume coming in at 0.17 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for PRT. When we apply the Elder Force Index to PermRock Royalty Trust, we are seeing an Elder Force Indicator number of 343293.6.
Recent Performance
The recent performance of the stock is another area that can tell traders how to proceed. PRT is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 14.00. Moreover, the company’s enterprise value has gone from $33.96M to $30.66M quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, PRT made a profit of -0.46 million. PermRock Royalty Trust also saw quarter revenue growth year over year of -35.65%.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 1.82 compared to the 50-day moving average of 1.9551. So, traders might want to tread carefully if they are going to bid.
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. PRT currently holds a 9-day RSI of 65.88%, while 100-day RSI stands at 44.50%.
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. PRT’s 9-day MACD is 0.03 and the company’s 100-day MACD stands at -0.48.
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 0.00% by insiders and 52.13% by institutions. Regarding institutional holdings, G.F.W. Energy X, L.P. owns 48.32%, while the second top holder, Goldman Sachs Group, Inc., currently owns 1.88%.
Conclusion
Overall, the recommended rating for PRT is Hold. Currently, the company has 1 analysts watching the stock, and the average quarterly earnings estimate is 0. Quarterly revenue estimates are averaging 2.3M with the high estimate reaching 2.8M and the low at 1.8M.
To review, the current 1-year target estimate is sitting at 3.00, while the current price 2.10. Based on this, we expect the stock to rise considering the aforementioned fundamentals.
