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Analysts Recommend Holding Your Position In Glatfelter Corporation (NYSE: GLT)

Glatfelter Corporation (NYSE:GLT) price closed lower on Monday, February 12, dropping -1.77% below its previous close.

A look at the daily price movement shows that the last close reads $2.26. The company’s 5Y monthly beta was ticking 1.60. Taking into account the 52-week price action we note that the stock hit a 52-week high of $4.59 and 52-week low of $1.25. The stock added 55.24% on its value in the past month.

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Glatfelter Corporation, which has a market valuation of $100.10 million, is expected to release its quarterly earnings report Feb 22, 2024.

On average, analysts have forecast the company’s revenue for the quarter will hit $373.9 million, with the likely lows of $397 million and highs of $397 million. The average estimate suggests sales growth for the quarter will likely rise by 11.80% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $1.49 billion for the company’s annual revenue in 2022. Per this projection, the revenue is forecast to grow 37.50% above that which the company brought in 2022.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give GLT a short term outlook of 25% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as Hold.

The overview shows that GLT’s price is at present 39.62% off the SMA20 and 37.55% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 62.88, with weekly volatility standing at 16.50%. The indicator jumps to 9.59% when calculated based on the past 30 days. Glatfelter Corporation (NYSE:GLT)’s beta value is holding at 1.68, while the average true range (ATR) indicator is currently reading 0.22.

An analysis of the Glatfelter Corporation (NYSE:GLT) stock in terms of its daily trading volume indicates that the 3-month average is 0.86. However, this figure increases on the past 10-day timeline to an average of 7.41 million.

Current records show that the company has 44.79M in outstanding shares. The insiders’ percentage holdings are 3.98% of outstanding shares while the percentage share held by institutions stands at 77.67%. The stats also highlight that short interest as of Jan 31, 2024, stood at 1.67 million shares, which puts the short ratio at the time at 7.95. From this we can glean that short interest is 3.70% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 1.57 million. But the 14.43% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.