The stock of Aerpio Pharmaceuticals, Inc. (NASDAQ:ARPO) is now priced at $1.26 and the shares are 0.02 points up or 1.61% higher compared to its previous closing price of $1.24. The stock had 803461 contracts set over the past session. ARPO shares’ daily volume is compared to its average trading volume at 2172078 shares. However, it has a float of 32960000 and although it’s 5.88% over the week, it’s one to watch. Analysts have given the ARPO stock a yearly average price target of $1 per share. It means the stock’s downside potential is -20.63% with the ARPO share price recently placing at $1.2 to $1.33. However, some brokerage firms have priced the stock below the average, including one that has called $1.5.
The shorts are running away from the Aerpio Pharmaceuticals, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the ARPO shares have declined. Short interest in the stock represents just 0.25% of its float, but the volume has dropped by -28835. The volume of shorted shares dropped to 83456 from 112291 shares over the last two weeks. The average intraday trading volume has been 1269262 shares, which means that days to cover moved to roughly 1.
In the last trading session, Aerpio Pharmaceuticals, Inc. (NASDAQ:ARPO) raised by $0.07 over the week and gained $0.16 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.53. The stock recorded its established 52-week high on 05/28/20.
Since 03/19/20, the stock has traded to a low of $0.42 at -17.65%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Aerpio Pharmaceuticals, Inc.’s two-week RSI is 61.96. This suggests that the stock is neutral at the moment and that ARPO shares’ price movement remains stable. The stochastic readings are equally revealing at 62.5% meaning the ARPO share price is currently in neutral territory.
The technical chart shows that the ARPO stock will likely settle at between $1.3267 and $1.3933 per share. However, if the stock dips below $1.1967, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.1333.
Currently, the stock is trading in the green of MACD, with a reading of 0.0178. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ARPO a rating of Buy in their intiating review released on July 23.
The average rating for the ARPO equity is 3 and is currently gathering a bullish momentum. Of 1 analysts tracking Aerpio Pharmaceuticals, Inc. polled by Reuters, 1 rated ARPO as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.