Shares of E Commerce China Dangdang Inc (DANG) are up almost 6 percent in early trading. The move may be attributed to an upgrade rating by analysts at T.H. Capital, who raised DANG to ‘Buy’ from ‘Hold’ and placed a price target of $17.00 in a research report issued to clients on Thursday. T.H. Capital, whose PT suggests a potential upside of more than 18% from the company’s previous closing price, expects Dangdang to report better second-quarter FY2014 results and provide inline third-quarter FY2014 guidance.
E Commerce China Dangdang Inc closed at $14.37 at the end of Wednesday’s trading session, printing a one year return of 55.24% and a year-to-date return of around 60%. The stock of the $1.23 billion market cap firm had a trading volume of 2.297 million shares. DANG, which currently trades at a forward P/E of 36.10 and a P/E to growth ratio of 6.05, has a trailing/12 price-to-sales ratio of 1.06.
The stock has a 1-year low of $7.68 and a 1-year high of $19.05. The median Wall Street price target on the company’s shares is $14 with a high target of $16.40.
DANG’s 50-day moving average is $12.93 and its 200-day moving average is $12.18. The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.
DANG is up 84 cents in early trading, increasing its monthly gains to over 21 percent.
E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in China. The company was founded in 2000 and is headquartered in Beijing.