The stock of AxoGen, Inc. (NASDAQ:AXGN) is now priced at $11.49 and the shares are -0.24 points down or -2.05% lower compared to its previous closing price of $11.73. The stock had 902675 contracts set over the past session. AXGN shares’ daily volume is compared to its average trading volume at 611560 shares. However, it has a float of 38.24 million and although its performance was 24.89% over the week, it’s one to watch. Analysts have given the AXGN stock a yearly average price target of $15.5 per share. It means the stock’s upside potential is 34.9% with the AXGN share price recently placing at $10.415 to $11.9. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are climbing into the AxoGen, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the AXGN shares have risen. Short interest in the stock represents just 3.21% of its float, but the volume has raised by 49862. The volume of shorted shares rised to 1.227 million from 1.177 million shares over the last two weeks. The average intraday trading volume has been 328385 shares, which means that days to cover moved to roughly 3.737351.
In the last trading session, AxoGen, Inc. (NASDAQ:AXGN) raised by $2.29 over the week and gained $1.47 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $22.1. The stock recorded its established 52-week high on 07/12/19.
Since 04/16/20, the stock has traded to a low of $7.16 at 60.47%, 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 0.42. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, AxoGen, Inc.’s two-week RSI is 64. This suggests that the stock is neutral at the moment and that AXGN shares’ price movement remains stable. The stochastic readings are equally revealing at 56.45% meaning the AXGN share price is currently in neutral territory.
The technical chart shows that the AXGN stock will likely settle at between $12.12 and $12.75 per share. However, if the stock dips below $10.64, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.78.
Currently, the stock is trading in the green of MACD, with a reading of 1.04. 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 AXGN a rating of Overweight in their resuming review released on June 16. Canaccord Genuity analysts downgraded their recommendation of the stock from Buy to Hold while keeping its target price at $12 in a flash note released to investors on May 07. BTIG Research seeing the stock struggling downgraded it from Buy to Neutral on April 02.
The average rating for the AXGN equity is 2 and is currently gathering a bullish momentum. Of 6 analysts tracking AxoGen, Inc. polled by Reuters, 2 rated AXGN as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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.
Elsewhere, the AXGN stocks P/S ratio currently stands below the group’s average of 34.4. AxoGen, Inc. has its P/E ratio at 3.7, which means that the stock is currently trading at a discount relative to the 4.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for AxoGen, Inc. (NASDAQ:AXGN) will decrease by about -99.95%, which will see them reach $13.15 million. The company’s full-year revenues are, however, expected to diminish by about -24.34%, down from $106.71 million to $80.74 million. AXGN’s expected adjusted earnings should surge almost 280% to end up at -$0.38 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 121.43% to record -$0.93/share.