Hooker Furniture Corp. stock trades under the ticker HOFT & has shown some bullish signals recently despite its drop over the last year that traders & investors may want to take a closer look at.
HOFT stock closed at $17.23/share on 5/10/2022.
Hooker Furniture Corp HOFT Stock’s Technicals Broken Down
HOFT Stock Price: $17.23
10 Day Moving Average: $17.17
50 Day Moving Average: $18.78
200 Day Moving Average: $23.99
RSI: 40.08
MACD: -0.511
Yesterday, HOFT stock completed a bullish MACD crossover, while also breaking out above its 10 day moving average bullishly.
While HOFT has been in a steady decline over the last year, they have traded at above average volume in the most recent two months.
With their RSI still in oversold territory, there looks to be some possible near-term strength for HOFT stock, pending the broader markets’ movement direction after today’s CPI print.
They will need to break through the $17.45, $17.61 & $17.88/share resistance levels as they continue to climb higher.
Hooker Furniture Corp HOFT Stock As A Long-Term Investment
Long-term oriented investors will like HOFT stock’s valuation metrics, with a P/E (ttm) of 17.54 & a 0.78 P/B (mrq).
They recently reported -13.2% Quarterly Revenue Growth Y-o-Y, which investors may want to take a closer look into.
HOFT stock’s balance sheet is also appealing, with $69.37M of Total Cash (mrq) & only $54.04M of Total Debt (mrq).
HOFT pays a 4.37% annual dividend, which may be unsustainable in the long-run as their payout ratio is 76.3%.
84.1% of HOFT stock’s outstanding share float is held by institutional investors.
Hooker Furniture Corp HOFT Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to profit from HOFT stock’s price movements, while hedging against broader market volatility.
I am looking at the contracts with the 5/20 expiration date.
The $17.50 calls are low on open interest, but at-the-money, while the next nearest calls are at the $20 & $22.50 strike prices.
The $22.50, $20 & $17.50 puts also look appealing, and are all currently in-the-money.
Tying It All Together
HOFT stock has many attributes that traders & investors will like, despite having gone through a difficult year.
Investors will like their balance sheet & valuation metrics, but may want to look into how sustainable their dividend will be in the long-run.
Traders will like their current change in momentum, assuming that it can hold up & not be dragged down by broader market performance in the coming days.
Overall, HOFT stock is worth taking a closer look into, regardless of your trading style.
*** I DO NOT OWN SHARES OF HOFT STOCK AT THE TIME OF WRITING THIS ARTICLE ***