Shares of Ascena Retail Group, Inc. (NASDAQ:ASNA) are currently poised at 14.44% from the open today and are trading at $2.06. More than 31,510,071 shares have exchanged hands compared to an average trading volume of 3.97M. At the current pps, the market cap stands at $477.45M. The stock prices of Ascena Retail Group, Inc. (NASDAQ:ASNA) are currently trading at -77.41% below its 52 week high and -25.63% above its 52 week low.
In after-hours trading Wednesday, shares of Ascena Retail Group ASNA are cratering, down over 33% to $1.88 per share after the company slashed its guidance for its fiscal third quarter and full-year 2017.
Ascena Retail Group, Inc. (NASDAQ:ASNA) is all set to announce its earnings on Jun 05/a. As per Zack’s analyst ratings, Ascena Retail Group, Inc. (NASDAQ:ASNA) currently has an average brokerage rating of 3. On a scale of 1 to 5, a rating of 1 or 2 would indicate a buy, and a rating of 4 or 5 would signify a sell recommendation. A rating of 3 would indicate a hold on the stock. The consensus target price on (NASDAQ:ASNA) is $6.8 with a high of $10 and a low of $5.
Let’s take a look at the technical analysis.
The Barchart Technical Opinion rating is a 100% Sell and ranks in the Top 1% of all short term signal directions. Longer term, the trend strength is in the Top 1%. Long term indicators fully support a continuation of the trend. The market is in highly oversold territory. Beware of a trend reversal.
The Exponential Moving Average (EMA) is similar to a simple moving average (average price over a set period) but it utilizes a weighting factor that exponentially declines from the most recent data point (recent prices are weighted higher than oil prices). EMA analysis compares the short term (5 days and 13 days), intermediate term (20 days) and long term (50 days) EMA’s. The respective EMA’s will give bullish signals when trading above trailing EMA’s and below the current price and vice versa. EMA alerts include crossovers (i.e the 5 day EMA crosses above/below the 20 day EMA) and EMA convergencies (5 day EMA equivalent to 13 day EMA). The 5 day EMA 2.77 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 3.89 is also higher than the current trading price depicting a bearish trend overall.
The relative strength index (RSI) is a momentum oscillator that is able to measure the velocity and magnitude of stock price changes. Momentum is calculated as the ratio of positive price changes to negative price changes. The RSI analysis compares the current RSI against neutral(50), oversold (30) and overbought (70) conditions. Alerts will inform you when stocks recede from oversold/overbought levels or breakthrough neutral (50). The current RSI is 19.51 suggesting a bearish price action.
As such, while we believe Ascena Retail Group, Inc. (NASDAQ:ASNA) represents a compelling growth story exposed to several secularly attractive markets, it would be interesting to see how it fairs for long-term investors.
Ascena Retail Group, Inc, formerly known as The Dress Barn, Inc., operates as a national specialty retailer of apparel for women and girls under the Dressbarn, Maurices and Justice brands. Its Dressbarn stores offer casual, career and special occasion fashion apparel and accessories; Maurices stores offer casual and career apparel and accessories; and Justice stores offer trend-right apparel and accessories. Ascena Retail Group, Inc. is based in Suffern, New York.