Casino Stock Pops (Again) on Analyst Upgrade

Group 1 - PENN Entertainment Inc shares have increased by 9%, reaching $19.20, the highest level since early March, following an upgrade from Citizens JMP from "market perform" to "outperform" with a price target of $24 [1] - The stock has been recovering from an early-April low of $13.25 and is now approaching its year-over-year breakeven level, with analysts evenly split on ratings [2] - There has been a 5.6% increase in short interest over the past two reporting periods, now accounting for 13.4% of the stock's total float, indicating a potential for short covering [3] Group 2 - The average trading pace suggests it would take shorts five days to buy back their positions, indicating a potential shift in market sentiment [3] - Options for PENN Entertainment are currently considered affordable, with a Schaeffer's Volatility Index (SVI) of 44%, ranking in the 3rd percentile of its annual range, suggesting low volatility expectations [3]