NIKE Inc. [NKE] Is Currently 1.83 below its 200 Period Moving Avg: What Does This Mean?

NIKE Inc. [NYSE: NKE] gained 1.83% on the last trading session, reaching $119.00 price per share at the time. The company report on March 7, 2023 that Nike Announces Senior Leadership Shifts to Drive Continued Future Growth.

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NIKE, Inc. (NYSE:NKE) announced senior leadership changes today in support of its Consumer Direct Acceleration (CDA). CDA is a digitally empowered phase of NIKE’s strategy to unlock long-term growth and profitability, first announced in 2020.

Amy Montagne, currently VP/GM, APLA will transition to lead the Women’s business as VP/GM Women’s. Cathy Sparks, currently VP, Nike Direct, EMEA, will transition to lead the APLA geography as VP/GM, APLA. Whitney Malkiel, currently VP/GM Women’s, has decided to leave Nike.

NIKE Inc. represents 1.56 billion in outstanding shares, while the company has a total market value of $185.11 billion with the latest information. NKE stock price has been found in the range of $117.23 to $119.49.

If compared to the average trading volume of 6.92M shares, NKE reached a trading volume of 6040615 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NIKE Inc. [NKE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKE shares is $129.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NKE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Telsey Advisory Group have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on October 13, 2022, representing the official price target for NIKE Inc. stock. On September 30, 2022, analysts decreased their price target for NKE shares from 156 to 141.

The Average True Range (ATR) for NIKE Inc. is set at 2.59, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 3.77. The Price to Book ratio for the last quarter was 12.14, with the Price to Cash per share for the same quarter was set at 6.83.

Trading performance analysis for NKE stock

NIKE Inc. [NKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.49. With this latest performance, NKE shares dropped by -2.64% in over the last four-week period, additionally plugging by 5.89% over the last 6 months – not to mention a drop of -2.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKE stock in for the last two-week period is set at 44.61, with the RSI for the last a single of trading hit 45.29, and the three-weeks RSI is set at 46.67 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 123.46, while it was recorded at 118.22 for the last single week of trading, and 110.00 for the last 200 days.

NIKE Inc. [NKE]: A deeper dive into fundamental analysis

NIKE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.70.

NIKE Inc. [NKE]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NIKE Inc. go to 6.77%.

An analysis of insider ownership at NIKE Inc. [NKE]

There are presently around $119,872 million, or 82.90% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 109,698,806, which is approximately 0.998% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 85,499,808 shares of the stock with an approximate value of $10.17 billion in NKE stocks shares; and STATE STREET CORP, currently with $6.55 billion in NKE stock with ownership of nearly -0.334% of the company’s market capitalization.

Positions in NIKE Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 1,179 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 54,762,521 shares. Additionally, 1,078 investors decreased positions by around 61,279,063 shares, while 241 investors held positions by with 891,283,800 shares. The mentioned changes placed institutional holdings at 1,007,325,384 shares, according to the latest SEC report filing. NKE stock had 345 new institutional investments in for a total of 8,669,218 shares, while 134 institutional investors sold positions of 15,082,986 shares during the same period.


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