Company Watch: Stock Nearing 52-Week Low Oritani Financial Corp. (NASDAQ:ORIT)

Checking on shares of Oritani Financial Corp. (NASDAQ:ORIT), we have noticed that the stock has been trading close to the 52-week low. Traders will be closely watching to see if the stock rebounds or continues to slide lower. Shares were recently seen at the 16.15 level, which is currently 8.24% away from the 52-week low price. Shifting gears, we can see that the stock’s current beta value is 0.32. A positive beta would suggest that the stock follows the market. A negative beta means that the stock inversely follows the market. A beta of 0 would indicate that the price is not correlated with the market.

Over the last quarter, shares have performed -4.15%. For the last month, shares have performed -5.83%. Zooming in to the last week, company shares are -2.12%. Over the past full-year, Oritani Financial Corp. (NASDAQ:ORIT)’s stock has been 4.17%. Since the beginning of the calendar year, company shares have performed -13.87%. Investors will be waiting to see if shares see a turnaround in the next few weeks. As the stock nears 52-week lows, investors may be rapidly trying to figure out the next move.

Focusing on Street analyst opinions, we can see that the current consensus target price on company shares is $17.38. Moving over to the consensus broker rating, we see the number is 3.00. This rating uses a scale where a 1 or a 2 would indicate a consensus Buy recommendation. A rating of 4 or 5 would indicate a consensus Sell recommendation. A rating of 3 would represent a Hold recommendation.

Checking in on the RSI or relative strength index for Oritani Financial Corp. (NASDAQ:ORIT), we have noted that the current 14-day level is 28.90. The RSI is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. RSI may be used to identify overbought or oversold conditions. An RSI reading above 70 would be considered overbought, and a value under 30 would indicate oversold conditions. A level of 50 would indicate neutral market momentum.

At current stock price levels, Oritani Financial Corp. (NASDAQ:ORIT) shares are trading -5.11% away from the 200-day moving average. Focusing on some other popular MA time-frames, we can see that the stock is trading -4.62% away from the 50-day MA and -3.24% away from the 20-day MA.

By Sparta Contributor