The stock of Crescent Acquisition Corp. (NASDAQ:CRSA) is now priced at $10.46 and the shares are 0.04 points up or 0.38% higher compared to its previous closing price of $10.42. The stock had 158350 contracts set over the past session. CRSA shares’ daily volume is compared to its average trading volume at 160131 shares. However, it has a float of 18.75 million and although its performance was -8% over the week, it’s one to watch. CRSA share price recently placing at $10.42 to $10.6. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the Crescent Acquisition Corp. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the CRSA shares have risen. Short interest in the stock represents just 1.07% of its float, but the volume has raised by 375. The volume of shorted shares rised to 200836 from 200461 shares over the last two weeks. The average intraday trading volume has been 0.016 million shares, which means that days to cover moved to roughly 12.579768.
In the last trading session, Crescent Acquisition Corp. (NASDAQ:CRSA) dropped by -$0.91 over the week and gained $0.49 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.11. The stock recorded its established 52-week high on 06/22/20.
Since 03/18/20, the stock has traded to a low of $9.1 at 14.95%, 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, Crescent Acquisition Corp.’s two-week RSI is 52.84. This suggests that the stock is neutral at the moment and that CRSA shares’ price movement remains stable. The stochastic readings are equally revealing at 15.61% meaning the CRSA share price is currently in overbought territory.
The technical chart shows that the CRSA stock will likely settle at between $10.57 and $10.67 per share. However, if the stock dips below $10.39, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.31.
Currently, the stock is trading in the red of MACD, with a reading of -0.2. 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.
Elsewhere, the CRSA stock’s P/S ratio currently stands at 80.5below the group’s average of 563.9. Crescent Acquisition Corp. has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 1.7 industry average.