Covenant Logistics Corp. CVLG Stock Analysis

Covenant Logistics Corp. stock trades under the ticker CVLG & has shown recent bullish behavior that traders & investors should take a closer look at.

CVLG stock closed at $35.93/share on 1/11/2023.

Covenant Logistics Corp. CVLG Stock’s Technical Performance Broken Down

Covenant Logistics Group, Inc. Stock's Technical Performance Over The Last Year

CVLG Stock Price: $35.93

10 Day Moving Average: $34.68

50 Day Moving Average: $37.03

200 Day Moving Average: $29.06

RSI: 51.24

MACD: -0.619

Yesterday, CVLG stock completed a bullish MACD crossover, rising 0.81% on the day.

Recent trading volumes have been about average compared to the year prior & their RSI is neutral at 51, however their near-term may be volatile with yesterday’s hanging man candlestick (bearish signal).

CVLG stock has support at the $35.70 & $34.69/share price levels, as they try to break out & above the $36.75-8 zone & $37.03 resistance levels.

Covenant Logistics Corp. CVLG Stock As A Long-Term Investment

Long-term investors will like CVLG stock’s valuation metrics, with a 4.73 P/E (ttm) & a 1.20 P/B (mrq).

They recently reported 13.6% Quarterly Revenue Growth Y-o-Y, with 207.1% Quarterly Earnings Growth Y-o-Y.

Their balance sheet will require a more thorough analysis, with $59.26M of Total Cash (mrq) & $134.96M of Total Debt (mrq).

CVLG pays a modest 0.58% dividend, which appears to be very sustainable in the long-run, as their payout ratio is 2.87%.

69.32% of CVLG stock’s outstanding share float is owned by institutional investors.

Covenant Logistics Corp. CVLG Stock As A Short-Term Trade Using Options

Traders who are focused on short-term time frames can trade options to profit from price movements in CVLG stock, while protecting their portfolio from volatility.

I am looking at the contracts with the 3/17 expiration date.

The $30, $35 & $25 calls are all in-the-money, listed from highest to lowest level of open interest.

Currently there is only open interest in the $40 puts, however, other in-the-money strikes may become more liquid after the 1/20 & 2/17 expiration dates pass.

Tying It All Together

CVLG stock has many interesting traits that investors & traders are sure to find appealing.

Investors will like their valuation metrics & the security of their dividend, although its yield is awfully low.

Traders will like their recent technical performance, but may need to wait for more contracts to be written for the 3/17 expiration that are in-the-money after other monthly expiration dates pass.

Overall, it is worth taking a closer look into CVLG stock to see how it fits into your portfolio strategy.