Paramount Global (NASDAQ:PARA) price closed higher on Monday, May 06, jumping 3.10% above its previous close.
A look at the daily price movement shows that the last close reads $12.89. The company’s 5Y monthly beta was ticking 1.78. Taking into account the 52-week price action we note that the stock hit a 52-week high of $19.04 and 52-week low of $10.12. The stock added 11.03% on its value in the past month.
Paramount Global, which has a market valuation of $8.86 billion, is expected to release its quarterly earnings report Apr 29, 2024. The company stock has a Forward Dividend ratio of 0.20, while the dividend yield is 1.50%. It is understandable that investor optimism is growing ahead of the company’s current quarter results.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give PARA a short term outlook of Hold 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 50% Buy.
The overview shows that PARA’s price is at present 13.18% off the SMA20 and 15.13% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 58.16, with weekly volatility standing at 9.64%. The indicator jumps to 6.16% when calculated based on the past 30 days. Paramount Global (NASDAQ:PARA)’s beta value is holding at 1.81, while the average true range (ATR) indicator is currently reading 0.86.
An analysis of the Paramount Global (NASDAQ:PARA) stock in terms of its daily trading volume indicates that the 3-month average is 21.82 million.
Current records show that the company has 612.00M in outstanding shares. The insiders’ percentage holdings are 11.27% of outstanding shares while the percentage share held by institutions stands at 73.10%. But the -10.14% downside, 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.
