The stock of Bogota Financial Corp. (NASDAQ:BSBK) is now priced at $8.8 and the shares are 0.3 points up or 3.53% higher compared to its previous closing price of $8.5. The stock had 8570 contracts set over the past session. BSBK shares’ daily volume is compared to its average trading volume at 0.029 million shares. However, it has a float of 5.74 million and although its performance was 4.89% over the week, it’s one to watch. BSBK share price recently placing at $8.49 to $8.8. However, some brokerage firms have priced the stock below the average.
The shorts are climbing into the Bogota Financial Corp. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the BSBK shares have risen. Short interest in the stock represents just 0.14% of its float, but the volume has raised by 1553. The volume of shorted shares rised to 7872 from 6319 shares over the last two weeks. The average intraday trading volume has been 20708 shares, which means that days to cover moved to roughly 1.
Looking at current readings, Bogota Financial Corp.’s two-week RSI is 49.39. This suggests that the stock is neutral at the moment and that BSBK shares’ price movement remains stable. The stochastic readings are equally revealing at 39.18% meaning the BSBK share price is currently in neutral territory.
The technical chart shows that the BSBK stock will likely settle at between $8.9 and $9.01 per share. However, if the stock dips below $8.59, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.39.
Currently, the stock is trading in the red of MACD, with a reading of -0.07. 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 BSBK stocks P/S ratio currently stands at 158.9 above the group’s average of 10.4. Bogota Financial Corp. has its P/E ratio at 0.9, which means that the stock is currently trading at a premium relative to the 0.8 industry average.