As this happened, BTIG Research upgraded its Frontline Plc [FRO] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in late March from “a Hold” to “a Buy”. Deutsche Bank also remained covering FRO and has increased its forecast on January 09, 2024 with a “Buy” recommendation from previously “Hold” rating. Deutsche Bank revised its rating on August 25, 2023. It rated FRO as “a Hold” which previously was an “a Buy”.
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Price Performance Review of FRO
On Tuesday, Frontline Plc [NYSE:FRO] saw its stock fall -5.52% to $21.92. Over the last five days, the stock has lost -12.43%. Frontline Plc shares have risen nearly 9.33% since the year began. Nevertheless, the stocks have risen 6.36% over the past one year. While a 52-week high of $29.39 was reached on 05/28/24, a 52-week low of $18.34 was recorded on 01/02/24. SMA at 50 days reached $23.42, while 200 days put it at $23.87.
Levels Of Support And Resistance For FRO Stock
The 24-hour chart illustrates a support level at 21.66, which if violated will result in even more drops to 21.41. On the upside, there is a resistance level at 22.36. A further resistance level may holdings at 22.81. The Relative Strength Index (RSI) on the 14-day chart is 40.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.17%. Stochastics %K at 36.90% indicates the stock is a holding.
How much short interest is there in Frontline Plc?
A steep rise in short interest was recorded in Frontline Plc stocks on 2024-09-30, growing by 1.49 million shares to a total of 8.71 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 7.21 million shares. There was a rise of 17.15%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on August 15, 2023 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $20 price target.
