ELF Stock Soars on Bull Note

ELF has tended to make smaller moves than what the options market has priced in

Managing Editor
Feb 4, 2020 at 11:34 AM
facebook twitter linkedin


Cosmetics name e.l.f. Beauty Inc (NYSE:ELF) is moving 5.4% higher this morning, last seen at $17.23 surging on the heels of an upgrade to "overweight" from "neutral" out of Piper Sandler. This was triggered by a TikTok campaign the company had put out in late 2019 called "#elfingamazing," which has since gathered billions of views. ELF is now eyeing its highest open since late-November, pushing above the recent resistance of the $16 level, and the 120-day moving average.

Heading into today, covering brokerage firms looked optimistic, with seven of 11 analysts sporting a "buy" or "strong buy" rating. Even further, the stock's average 12-month price target of $20.72 comes in 20% above current trading levels.

Short interest has been rolling back on the equity, specifically down 4.9% during the most recent reporting period. This accounts for 3.7% of e.l.f. stock's total available float, or just under two days' of pent-up buying buying power.

Worth noting on the heel's of today's surge is ELF has tended to make smaller moves than what the options market has priced in, looking back 12 months. This is per e.l.f. Beauty stock's Schaeffer's Volatility Scorecard (SVS), which sits at a relatively low 17, out of a possible 100.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners