JOANN Inc (NASDAQ:JOAN) shares, rose in value, with the stock price up by 11.68% to the previous day’s close as strong demand from buyers drove the stock to $0.23.
Actively observing the price movement in the last trading, the stock closed the session at $0.21. The value of beta (5-year monthly) was 1.03. Referring to stock’s 52-week performance, its high was $2.27, and the low was $0.20. On the whole, JOAN has fluctuated by -61.60% over the past month.
With the market capitalization of JOANN Inc currently standing at about $9.66 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 21, 2024 – Mar 25, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.23, which is expected to increase to -$0.76 for fiscal year -$2.23 and then to about -$1.89 by fiscal year 2025. Data indicates that the EPS growth is expected to be -162.40% in 2025, while the next year’s EPS growth is forecast to be 15.20%.
Analysts have estimated the company’s revenue for the quarter at $709.8 million, with a low estimate of $709.8 million and a high estimate of $709.8 million. According to the average forecast, sales growth in current quarter could jump up 2.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.18 billion, representing a decrease of -1.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that JOAN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of JOAN currently trading nearly -40.69% and -48.48% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.43, while the 7-day volatility ratio is showing 17.71% which for the 30-day chart, stands at 17.51%. Furthermore, JOANN Inc (JOAN)’s beta value is 1.01, and its average true range (ATR) is 0.05.
A comparison of JOANN Inc (JOAN) with its peers suggests the former has fared considerably weaker in the market. JOAN showed an intraday change of 11.68% in last session, and over the past year, it shrunk by -89.62%%.
Data on historical trading for JOANN Inc (NASDAQ:JOAN) indicates that the trading volumes over the past 10 days have averaged 1.11 million and over the past 3 months, they’ve averaged 321.75K. According to company’s latest data on outstanding shares, there are 41.10 million shares outstanding.
Nearly 71.78% of JOANN Inc’s shares belong to company insiders and institutional investors own 4.47% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.22 million shares as on Feb 29, 2024, resulting in a short ratio of 15.59. According to the data, the short interest in JOANN Inc (JOAN) stood at 5.31% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 2.49 million. The stock has fallen by -48.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the JOAN stock heading into the next quarter.
