Paramount Global (NASDAQ: PARA) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 612.00M common shares owned by the public and among those 590.83M shares have been available to trade.

The company’s stock has a 5-day price change of 6.80% and -12.97% over the past three months. PARA shares are trading -25.63% year to date (YTD), with the 12-month market performance down to -26.62% lower. It has a 12-month low price of $9.54 and touched a high of $17.50 over the same period. PARA has an average intraday trading volume of 14.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.60%, 0.19%, and -11.32% respectively.

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Institutional ownership of Paramount Global (NASDAQ: PARA) shares accounts for 67.99% of the company’s 612.00M shares outstanding.

It has a market capitalization of $7.33B and a beta (3y monthly) value of 1.78. The earnings-per-share (ttm) stands at -$8.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.21% over the week and 3.32% over the month.

Earnings per share for the fiscal year are expected to increase by 188.38%, and 2.18% over the next financial year.

Looking at the support for the PARA, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on August 09, 2024, with the firm’s price target at $10-$11. Wolfe Research coverage for the Paramount Global (PARA) stock in a research note released on July 09, 2024 offered a Underperform rating with a price target of $10. Goldman was of a view on June 25, 2024 that the stock is Sell, while Wells Fargo gave the stock Underweight rating on June 12, 2024, issuing a price target of $14- $9. Seaport Research Partners on their part issued Neutral rating on May 03, 2024.

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