Sunday, June 26, 2022

An Analysis of Credit Suisse Group AG (CS)’s Potential Price Growth

Goldman initiated its Credit Suisse Group AG [CS] rating to a Neutral in a research note published on Tuesday. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in early January from “an Outperform” to “a Neutral”. Keefe Bruyette also remained covering CS and has decreased its forecast on January 06, 2022 with a “an Underperform” recommendation from previously “Mkt perform” rating. UBS revised its rating on December 06, 2021. It rated CS as “a Neutral” which previously was an “a Buy”.


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Price Performance Review of CS

On Tuesday, Credit Suisse Group AG [NYSE:CS] saw its stock jump 0.34% to $5.91. On the same session, the stock had its day’s lowest price of $5.90, but rose to a high of $6.02. Over the last five days, the stock has lost -0.51%. Credit Suisse Group AG shares have fallen nearly -38.23% since the year began. Nevertheless, the stocks have fallen -41.96% over the past one year. While a 52-week high of $10.96 was reached on 01/13/22, a 52-week low of $5.65 was recorded on 06/16/22. SMA at 50 days reached $6.82, while 200 days put it at $8.81. A total of 13.02 million shares were traded, compared to the trading of 16.31 million shares in the previous session.

Levels Of Support And Resistance For CS Stock

The 24-hour chart illustrates a support level at 5.87, which if violated will result in even more drops to 5.82. On the upside, there is a resistance level at 5.99. A further resistance level may holdings at 6.06. The Relative Strength Index (RSI) on the 14-day chart is 35.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.75%. Stochastics %K at 15.42% indicates the stock is a buying.

How much short interest is there in Credit Suisse Group AG?

A steep rise in short interest was recorded in Credit Suisse Group AG stocks on Apr 28, 2022, growing by 70000.0 shares to a total of 12.36 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 12.29 million shares. There was a rise of 0.57%, which implies that there is a positive sentiment for the stock.

Credit Suisse Group AG [CS] – Who Are The Largest Shareholders?

In filings from Hotchkis & Wiley Capital Manageme, it is revealed that the company now owns 30,357,141 shares, or roughly 1.15% of the outstanding CS shares. In other words, the investor’s shares have risen by 279,100 from its previous 13-F filing of 30078041.0. Additionally, Dimensional Fund Advisors LP increased 3.90% of its stake after which the total value it holdings stand at $36,178,887, while Parametric Portfolio Associates L reduced -11.96% of its stake to hold $23.28 million in the firm. Over the last quarter, Brandes Investment Partners LP purchased 1,055,281 shares of Credit Suisse Group AG, while Goldman Sachs Asset Management LP bought -261,142 shares. At present, Morgan Stanley Smith Barney LLC is holding 1,744,837 shares valued at $12.3 million. Causeway Capital Management LLC owned 1,573,856 shares of the company at the time of its most recent 13F filing, worth $11.1 million.

According to FactSet, Credit Suisse Group AG’s share price will average $7.22 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.54 percent from its previous closing price of $5.89. Analysts expect Credit Suisse Group AG stock to reach the higher price of $9.98, while the lowest price estimate is $5.67.

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