A shift in analyst sentiment could give LOGI a tailwind
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Shares in Computer hardware Giant, Logitech International (NASDAQ: LOGI), Share have outperformed each other by 90% in the past 12 months. A range of support for LOGI has been provided to aid this surge, particularly the 40-day moving average, market cap of around $ 20 billion, and the $ 117-118 mark. In addition, the level of around + 20% since the beginning of the year has proven to be support for Logitech stock.
If you switch to brokerage coverage, there seems to be a lot of room for upgrades at LOGI. This corresponds to the 50% of analysts who are currently giving a mild “hold” recommendation for the share.
LOGI now looks ripe for a short squeeze. In fact, short interests fell 6.3% over the last two reporting periods, but still account for 8% of the total available float in Logitech stock. Given the average daily trading pace in Logitech stock, it would take short sellers more than three weeks to buy back those declining bets.
A change in sentiment in the Logitech option pits could also have a tailwind. Specifically, Logitech’s 50-day put / call volume ratio of 1.57 on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is in the 85th percentile of their annual Bandwidth. To put it more simply, puts have been bought through calls much faster than usual lately.