Generac Stock Moves Higher on Bullish Coverage

The equity sports a more than 74% deficit in 2022

Digital Content Manager
Dec 28, 2022 at 9:45 AM
facebook twitter linkedin

Generac Holdings Inc. (NYSE:GNRC) is up 2.6% at $93.55, after Janney Montgomery Scott rated the equity a "buy" with a $160 price target, which is a roughly 76% premium to last night's close.

The brokerage is joining an optimistic bunch, with 13 of 21 analysts in question calling GNRC a "strong buy" coming into today. Echoing this, the 12-month consensus target price of $149.14 is already a 63.6% premium to current levels.

Meanwhile, short sellers have been piling on, with short interest is up 11.5% in the last two reporting periods. The 5.39 million shares sold short currently make up for 8.8% of the equity's available float.

Short-term options traders lean bullish. This is per Generac stock's Schaeffer's put/call open interest ratio (SOIR), which sits higher than only 12% of annual readings, meaning these traders have rarely been more call-biased.  

It's also worth noting the equity's Schaeffer's Volatility Scorecard (SVS) ranks at 94 out of 100, meaning GNRC tends to outperform volatility estimates -- a good thing for buyers. 

On the charts, the stock just hit a Dec. 22, two-year low of $86.33. The 30-day moving average has been pressuring shares lower since August, contributing to its 74.1% deficit so far in 2022.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners