ChampionX Corp. (NASDAQ:CHX) shares, rose in value, with the stock price down by -0.64% to the previous day’s close as strong demand from buyers drove the stock to $38.75.
Actively observing the price movement in the last trading, the stock closed the session at $39.00. The value of beta (5-year monthly) was 2.44 whereas the PE ratio was 24.63 over 12-month period. Referring to stock’s 52-week performance, its high was $39.55, and the low was $24.98. On the whole, CHX has fluctuated by 23.41% over the past month.
With the market capitalization of ChampionX Corp. currently standing at about $7.41 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 22, 2024 – Apr 26, 2024. The company’s Forward Dividend Ratio is 0.43, with its dividend yield at 1.12%. 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 $0.41, which is expected to increase to $0.48 for fiscal year $1.98 and then to about $2.4 by fiscal year 2025. Data indicates that the EPS growth is expected to be 10.60% in 2025, while the next year’s EPS growth is forecast to be 21.20%.
Analysts have estimated the company’s revenue for the quarter at $922.23 million, with a low estimate of $915.4 million and a high estimate of $930 million. According to the average forecast, sales growth in current quarter could jump down -2.80%, 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 $3.89 billion, representing an increase of 3.50% 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 CHX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.18, with the price of CHX currently trading nearly 14.04% and 24.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 82.75, while the 7-day volatility ratio is showing 2.66% which for the 30-day chart, stands at 2.31%. Furthermore, ChampionX Corp. (CHX)’s beta value is 2.46, and its average true range (ATR) is 0.98.
A comparison of ChampionX Corp. (CHX) with its peers suggests the former has fared considerably weaker in the market. CHX showed an intraday change of -0.64% in last session, and over the past year, it grew by 36.30%%.
Data on historical trading for ChampionX Corp. (NASDAQ:CHX) indicates that the trading volumes over the past 10 days have averaged 3.49 million and over the past 3 months, they’ve averaged 1.81 million. According to company’s latest data on outstanding shares, there are 191.10 million shares outstanding.
Nearly 1.01% of ChampionX Corp.’s shares belong to company insiders and institutional investors own 104.66% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.72 million shares as on Mar 15, 2024, resulting in a short ratio of 6.66. According to the data, the short interest in ChampionX Corp. (CHX) stood at 4.56% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.62 million. The stock has risen by 32.66% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CHX stock heading into the next quarter.
