JOANN Inc [NASDAQ: JOAN] traded at a low on Tuesday, posting a -6.46 loss after which it closed the day’ session at $0.11. The company report on March 18, 2024 at 12:37 AM that JOANN Enters into Agreement to Reduce Debt and Receive $132 Million in New Capital and Related Financial Accommodations with Strong Support of Key Financial and Industry Stakeholders.
Stores and JOANN.com Remain Open; Company Continues to Operate as Usual.
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The results of the trading session contributed to over 8262212 shares changing hands. Over the past one week, the price volatility of JOANN Inc stands at 21.64% while the volatility over the past one month is 23.30%.
The market cap for JOAN stock reached $4.61 million, with 41.10 million shares outstanding and 11.83 million shares in the current float. Compared to the average trading volume of 982.28K shares, JOAN reached a trading volume of 8262212 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about JOANN Inc [JOAN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JOAN shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JOAN stock is a recommendation set at 3.00. 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 JOANN Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 30, 2023. The new note on the price target was released on August 31, 2022, representing the official price target for JOANN Inc stock. Previously, the target price had yet another drop from $10 to $8, while Loop Capital kept a Hold rating on JOAN stock. On June 03, 2022, analysts decreased their price target for JOAN shares from 20 to 8.
The Average True Range (ATR) for JOANN Inc is set at 0.05, with the Price to Sales ratio for JOAN stock in the period of the last 12 months amounting to 0.00.
How has JOAN stock performed recently?
JOANN Inc [JOAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.91. With this latest performance, JOAN shares dropped by -78.78% in over the last four-week period, additionally sinking by -86.16% over the last 6 months – not to mention a drop of -93.99% 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 JOAN stock in for the last two-week period is set at 25.22, with the RSI for the last a single of trading hit 22.39, and the three-weeks RSI is set at 28.35 for JOANN Inc [JOAN]. The present Moving Average for the last 50 days of trading for this stock 0.3952, while it was recorded at 0.1319 for the last single week of trading, and 0.7106 for the last 200 days.
JOANN Inc [JOAN]: Deeper insight into the fundamentals
JOANN Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.43.
Earnings analysis for JOANN Inc [JOAN]
With the latest financial reports released by the company, JOANN Inc posted 0.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.7/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -90.00%. 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 JOAN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for JOANN Inc go to -7.30%.
Insider trade positions for JOANN Inc [JOAN]
The top three institutional holders of JOAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in JOAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in JOAN stock with ownership which is approximately 5.8325%.
