The stock of Dirtt Environmental Solutions Ltd (TSE:DRT) gapped up by $0.15 today and has $16.79 target or 195.00% above today’s $5.69 share price. The 5 months technical chart setup indicates low risk for the $491.23 million company. The gap was reported on Nov, 10 by Barchart.com. If the $16.79 price target is reached, the company will be worth $957.90 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 369,256 shares traded hands or 156.80% up from the average. Dirtt Environmental Solutions Ltd (TSE:DRT) has declined 3.47% since April 6, 2016 and is downtrending. It has underperformed by 9.12% the S&P500.
Dirtt Environmental Solutions Ltd (TSE:DRT) Ratings Coverage
Out of 3 analysts covering DIRTT Environmental Solutions (TSE:DRT), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $10 is the highest target while $9 is the lowest. The $9.25 average target is 62.57% above today’s ($5.69) stock price. DIRTT Environmental Solutions has been the topic of 6 analyst reports since August 6, 2015 according to StockzIntelligence Inc.
DIRTT Environmental Solutions Ltd. is a maker of customized interiors. The company has a market cap of $491.23 million. The Firm combines its three-dimensional design, configuration and manufacturing software (ICE or ICE Software) with in-house manufacturing of its prefabricated interior construction solutions and a distribution partner (DP) network. It has a 36.2 P/E ratio. The Firm operates in Canada and the United States.
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