A Hedged Approach To Trading Callaway Golf Company (ELY)

The stock of Callaway Golf Company (NYSE:ELY) has been Upgraded to Outperform from Mkt Perform by Raymond James in its latest research note that was published on September 11. ELY was given a price target of$21 by Raymond James, with other Wall Street analysts also giving their reports regarding the stock. Stephens analysts bumped their recommendation on ELY stock from Equal-Weight to Overweight in a separate flash note to investors on August 09.

Callaway Golf Company, which has current market capitalization of above $2 Billion, published its last quarter earnings on June 30, 2019.

ELY surged by $0.15 during the normal trading session on Thursday and reaching a high of $19.43 during the day while it closed the day at $19.26. The Callaway stock had a low trading volume of 1.09 million shares on that day, which is low compared to the average daily volume of 1.24M shares. ELY has also gained 8.57% of its value over the past 7 days. However, the stock has surged by 5.88% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.03% while it has added 25.88% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -4.18% from its 3 months high price. However, taking another look at ELY will indicate that it is trading +16.94% away from its 90-day low. Looking at the bigger picture, the Callaway Golf Company stock has dropped by -21.93% from its 52-week high while it has surged by +33.38% from its 52-week low price.

On August 09, 2019 Arnett Richard H., EVP, Glb. Mktg. & CGC Brands sold 13137 shares of the company. The average price for that transaction was $20 per share, which meant that Arnett Richard H. earned $262740 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, FLEISCHER RUSSELL L purchasing 5000 shares of this stock on May 23, 2019. The average purchasing price for the stock was $14.75 per share, with the purchased stock accruing $73750. Following this transaction, the Director FLEISCHER RUSSELL L now holds 6575 shares of the company, which is worth around $126766.

Callaway has around 81 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $462 Billion. The Callaway stock is bringing in revenue of over 12 months, which is roughly 207 Billion. Despite all that, Callaway Golf Company is seeing things progressing very much as their y-o-y quarterly revenue surged by 7.33%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 76.86%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 94.3%. Over the past 20 days, Callaway’s Stochastic %K stood at 91.86% while its Stochastic %D was revealed to be 85.65%.