As published in a research note from Credit Suisse on November 10, 2022, Hanesbrands Inc [HBI] has been rated down from an Outperform to a Neutral and the price target has been revised to $7 from $10. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Underweight”‘ outlook in a report released in late October. As of July 13, 2022, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for HBI. Earlier on June 08, 2022, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for HBI stock which previously was a “an Overweight”.
Analyzing HBI Stock Performance
During the last five days, there has been a drop of approximately -11.25%. Over the course of the year, Hanesbrands Inc shares have jumped approximately 11.43%. Shares of the company reached a 52-week high of $5.86 on 04/01/24 and a 52-week low of $3.88 on 01/19/24. A 50-day SMA is recorded $5.02, while a 200-day SMA reached $4.58. Nevertheless, trading volume fell to 14.54 million shares from 6.06 million shares the previous day.
Support And Resistance Levels for Hanesbrands Inc (HBI)
According to the 24-hour chart, there is a support level at 4.84, which, if violated, would cause prices to drop to 4.70. In the upper region, resistance lies at 5.23. The next price resistance is at 5.48. RSI (Relative Strength Index) is 43.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 98.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Hanesbrands Inc subject to short interest?
Stocks of Hanesbrands Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 14.21 million shares to 49.02 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 34.81 million shares. A jump of 28.99% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.74.
