Hooker Furniture Corp. stock trades under the ticker HOFT & has shown recent bullishness that traders & investors may want to research further into for when market volatility subsides.
HOFT stock closed at $18.73/share on 4/10/2023.
Hooker Furniture Corp. HOFT Stock’s Technical Performance Broken Down
HOFT Stock Price: $18.73
10 Day Moving Average: $18.54
50 Day Moving Average: $20.06
200 Day Moving Average: $17.00
RSI: 44.9
MACD: -0.471
Yesterday, HOFT stock completed a bullish MACD crossover, gaining +2.18% on the day’s session.
Recent trading volume have been slightly elevated compared to the average of the year before & their RSI is still in the neutral range after spending the last few weeks in a consolidation period.
Broader macro volatility signals are still abound, making it important to watch how HOFT stock behaves at its support levels to figure out where the best entry-point will be once markets become less volatile.
HOFT stock has support at the $18.54 (10 day moving average), $18.39 & $18.07/share price levels, with resistance at the $19.14, $19.34 & $19.82/share price levels.
Hooker Furniture Corp. HOFT Stock As A Long-Term Investment
Long-term oriented investors will like HOFT stock’s valuation metrics, with a 22.63 P/E (ttm) & a 0.8 P/B (mrq).
They recently reported 13.6% Quarterly Revenue Growth Y-o-Y.
Their balance sheet will require a more thorough examination before investing, with $6.51M of Total Cash (mrq) & $79.04M of Total Debt (mrq).
HOFT stock pays a 4.36% dividend, which may not be sustainable in the long-run, as their payout ratio is 98.77%.
72.8% of HOFT stock’s outstanding share float is owned by institutional investors.
Hooker Furniture Corp. HOFT Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from HOFT stock’s price movements, while protecting their portfolios from volatility.
I am looking at the contracts that expire on 5/19.
The $17.50 call options are in-the-money.
The $25, $22.50 & $20 puts are also all in-the-money, listed from highest to lowest level of open interest.
Tying It All Together
HOFT stock has many interesting characteristics that traders & investors will find appealing.
Investors will like their valuation metrics & dividend yield, but may want to dig deeper into their balance sheet for clues on how sustainable their dividend is.
Traders will like their recent technical performance, but may be disappointed by how illiquid their options are.
All-in-all, it is worth taking a closer look into HOFT stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN HOFT STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***