With 406.60M Outstanding Shares, Can Otis Worldwide Corp (NYSE: OTIS) Deliver Big Short-Term Gains?

Otis Worldwide Corp (NYSE:OTIS) currently has a daily average trading volume of 1.98M but it saw 1740745 shares traded in last market. With a market cap of 40.75B USD, the company’s current market price of $100.78 came rising about 1.58 while comparing to the previous closing price of $99.21. In past 52 weeks, the stock remained buoying in the range of price level as high as $100.35 and as low as $73.32.

Taking a look at 20-day trading activity of Otis Worldwide Corp (OTIS) gives us an average price of $97.26, while its current price level is 0.43% below from 52-week high level whereas it is 37.45% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $96.36 while that of 200 days or SMA-200 reads an average of $88.96. A closer look into the stock’s movement over the week reveals that its volatility is standing at 1.89% during that period while stretching the period over a month that decreases to 1.52%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 64.75 which implies that the stock is in neutral territory.

Argus upgraded its recommendation for the stock as a “Buy” from “Hold” on February 22, 2024 while assigning a price target of $102.

Over the week, OTIS’s stock price is moving 6.32% up while it is 8.26% when we observe its performance for the past one month. Year-to-date it is 12.64% up and over the past year, the stock is showing an upside performance of 19.22%.

Currently, Otis Worldwide Corp’s total number of outstanding shares is 406.60M. Company’s return on investment (ROI) stands at 67.81%. It has a price to earnings ratio (P/E ratio) of 29.10 while having a 23.78 of forward P/E ratio. Stock’s beta reads 0.94. Stock has a price to sale or P/S ratio amounts to 2.85. Its return on asset (ROA) is 14.54% on average.