Gray Television, Inc. (GTN): Clutching At Straws?

The stock of Gray Television, Inc. (NYSE:GTN) has been Reiterated to Outperform by Barrington Research in its latest research note that was published on March 04. GTN has given a price target of $26 by Barrington Research, with other Wall Street analysts also giving their reports regarding the stock. The Benchmark Company analysts again handed out a Buy rating to GTN stock but they lifted target price for the shares in a flash note to investors on November 07. The price target has been raised from $28 to $29.

Gray Television, Inc., which has current market capitalization of above $2 Billion, published its last quarter earnings on June 30, 2019.

GTN declined by $-0.10 during the normal trading session on Thursday and reaching a high of $17.51 during the day while it closed the day at $17.19. The Gray stock had a low trading volume of 0.99 million shares on that day, which is low compared to the average daily volume of 989.16M shares. GTN has also gained 13.39% of its value over the past 7 days. However, the stock has surged by 3.06% in the 3 months of the year. Over the past six months meanwhile, it has lost 23.26% while it has added 16.62% 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 -8.22% from its 3 months high price. However, taking another look at GTN will indicate that it is trading +26.4% away from its 90-day low. Looking at the bigger picture, the Gray Television, Inc. stock has dropped by -32.08% from its 52-week high while it has surged by +26.4% from its 52-week low price.

On August 13, 2019 Howell Robin Robinson, Director bought 1300 shares of the company. The average price for that transaction was $15.49 per share, which meant that Howell Robin Robinson spent $20137 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Chairman, President & CEO, HOWELL HILTON H JR purchasing 1300 shares of this stock on August 13, 2019. The average purchasing price for the stock was $15.49 per share, with the purchased stock accruing $20137. Following this transaction, the Chairman, President & CEO HOWELL HILTON H JR now holds 1008467 shares of the company, which is worth around $17759104.

Gray has around 251 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $233 Billion. The Gray stock is bringing in revenue of over 12 months, which is roughly 323 Billion. Despite all that, Gray Television, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 127.46%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 69.98%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 83.75%. Over the past 20 days, Gray’s Stochastic %K stood at 92.63% while its Stochastic %D was revealed to be 85.22%.