Is PriceSmart, Inc. (PSMT) a Sell? The Stock Formed Multiple Bottom Chart Pattern

January 13, 2018 - By Nellie Frank

Investors sentiment decreased to 1.51 in 2017 Q3. Its down 0.51, from 2.02 in 2017Q2. It dived, as 12 investors sold PriceSmart, Inc. shares while 35 reduced holdings. 22 funds opened positions while 49 raised stakes. 21.92 million shares or 0.66% more from 21.77 million shares in 2017Q2 were reported.
Tiaa Cref Inv Mngmt Limited Liability Com has 83,454 shares. Victory Mgmt Incorporated owns 2,496 shares or 0% of their US portfolio. Lombard Odier Asset Management (Switzerland) accumulated 2.11% or 243,800 shares. Next Fincl Inc reported 0% stake. Principal Financial Grp reported 2,607 shares or 0% of all its holdings. Pnc Financial Gp Inc holds 590 shares or 0% of its portfolio. Raymond James Assocs invested 0.01% in PriceSmart, Inc. (NASDAQ:PSMT). Product Partners invested in 44,028 shares or 0.13% of the stock. Morgan Stanley, a New York-based fund reported 35,237 shares. Manufacturers Life Ins The invested in 17,110 shares or 0% of the stock. Wesbanco Bancshares Inc has invested 0.01% in PriceSmart, Inc. (NASDAQ:PSMT). Suntrust Banks accumulated 0.02% or 33,831 shares. Regions Finance Corp accumulated 16,348 shares or 0.02% of the stock. The France-based Natixis has invested 0% in PriceSmart, Inc. (NASDAQ:PSMT). Advisory Ntwk Ltd Liability holds 119 shares or 0% of its portfolio.

The stock of PriceSmart, Inc. (PSMT) shows a multiple bottoms pattern with $75.53 target or 9.00 % below today’s $83.00 share price. The 8 months chart pattern indicates high risk for the $2.52 billion company. It was reported on Jan, 13 by Finviz.com. If the $75.53 price target is reached, the company will be worth $227.07 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.85% or $0.7 during the last trading session, reaching $83. About 201,112 shares traded or 56.43% up from the average. PriceSmart, Inc. (NASDAQ:PSMT) has risen 3.40% since January 13, 2017 and is uptrending. It has underperformed by 13.30% the S&P500.

PriceSmart, Inc. (NASDAQ:PSMT) Ratings Coverage

Among 3 analysts covering PriceSmart (NASDAQ:PSMT), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. PriceSmart had 7 analyst reports since September 1, 2015 according to SRatingsIntel. The stock of PriceSmart, Inc. (NASDAQ:PSMT) has “Sell” rating given on Tuesday, September 1 by Zacks. The stock of PriceSmart, Inc. (NASDAQ:PSMT) earned “Buy” rating by Roth Capital on Thursday, September 28. The firm has “Buy” rating given on Monday, January 11 by TH Capital. Scotia Capital downgraded it to “Hold” rating and $90.0 target in Friday, January 5 report.

More notable recent PriceSmart, Inc. (NASDAQ:PSMT) news were published by: Seekingalpha.com which released: “PriceSmart: Why Are Q1 Results A Surprise?” on January 08, 2018, also Streetinsider.com with their article: “Form 4 PRICESMART INC For: Jan 05 Filed by: Barrutieta Gonzalo” published on January 08, 2018, Fool.com published: “PriceSmart Inc. Maintains Its Growth Pace in Weak Market Conditions” on October 27, 2017. More interesting news about PriceSmart, Inc. (NASDAQ:PSMT) were released by: Nasdaq.com and their article: “Earnings Reaction History: PriceSmart, Inc., 80.0% Follow-Through Indicator, 4 …” published on January 04, 2018 as well as Fool.com‘s news article titled: “PriceSmart, Inc. (PSMT) Q1 2018 Earnings Conference Call Transcript” with publication date: January 06, 2018.

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