Gannett Co., Inc. (GCI) – Is The Recent Reaction Justified?

The stock of Gannett Co., Inc. (NYSE:GCI) has been Downgraded to Underweight from Neutral by JP Morgan in its latest research note that was published on July 06. Argus analysts have downgraded their rating of GCI stock from Buy to Hold in a separate flash note to investors on February 13. Analysts at Noble Financial are sticking to their Buy recommendation. However, on November 02, they lifted target price for these shares to $16 from $19.Analysts at Noble Financial, made their first call for the stock with a Buy rating, according to a research note that dated back to November 02.

Gannett Co., Inc., which has current market capitalization of above $1 Billion, published its last quarter earnings on June 30, 2019.

GCI surged by $0.08 during the normal trading session on Thursday and reaching a high of $10.95 during the day while it closed the day at $10.82. The Gannett stock had a high trading volume of 2.10 million shares on that day, which is high compared to the average daily volume of 1.96M shares. GCI has also gained 0.65% of its value over the past 7 days. However, the stock has surged by 29.27% in the 3 months of the year. Over the past six months meanwhile, it has lost 0.73% while it has added 26.85% 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 -4.25% from its 3 months high price. However, taking another look at GCI will indicate that it is trading +37.83% away from its 90-day low. Looking at the bigger picture, the Gannett Co., Inc. stock has dropped by -9.76% from its 52-week high while it has surged by +46.02% from its 52-week low price.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 86.09%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 89.6%. Over the past 20 days, Gannett’s Stochastic %K stood at 92.88% while its Stochastic %D was revealed to be 94.97%.