The stock of SeaSpine Holdings Corporation (NASDAQ:SPNE) is now priced at $10.44 and the shares are -0.05 points down or -0.48% lower compared to its previous closing price of $10.49. The stock had 70173 contracts set over the past session. SPNE shares’ daily volume is compared to its average trading volume at 173058 shares. However, it has a float of 23.78 million and although its performance was 1.66% over the week, it’s one to watch. Analysts have given the SPNE stock a yearly average price target of $16.54 per share. It means the stock’s upside potential is 58.43% with the SPNE share price recently placing at $10.28 to $10.76. However, some brokerage firms have priced the stock below the average, including one that has called $10.
The shorts are climbing into the SeaSpine Holdings Corporation stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the SPNE shares have risen. Short interest in the stock represents just 2.83% of its float, but the volume has raised by 67269. The volume of shorted shares rised to 673846 from 606577 shares over the last two weeks. The average intraday trading volume has been 140717 shares, which means that days to cover moved to roughly 4.788661.
In the last trading session, SeaSpine Holdings Corporation (NASDAQ:SPNE) raised by $0.17 over the week and lost -$0.9 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $16.78. The stock recorded its established 52-week high on 02/12/20.
Since 03/18/20, the stock has traded to a low of $4.02 at 159.7%, 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 0.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, SeaSpine Holdings Corporation’s two-week RSI is 46.19. This suggests that the stock is neutral at the moment and that SPNE shares’ price movement remains stable. The stochastic readings are equally revealing at 30.78% meaning the SPNE share price is currently in neutral territory.
The technical chart shows that the SPNE stock will likely settle at between $10.71 and $10.97 per share. However, if the stock dips below $10.23, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.01.
Currently, the stock is trading in the red of MACD, with a reading of -0.02. 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 SPNE a rating of Overweight in their resuming review released on June 16. Wells Fargo analysts upgraded their recommendation of the stock from Underweight to Equal Weight while keeping its target price at $10 in a flash note released to investors on April 07. SunTrust analysts see the stock as Buy when the analysts initiated the share price coverage on April 03, placing it at $15.
The average rating for the SPNE equity is 1.71 and is currently gathering a bullish momentum. Of 7 analysts tracking SeaSpine Holdings Corporation polled by Reuters, 1 rated SPNE as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) 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 SPNE stocks P/S ratio currently stands at 0below the group’s average of 34.4. SeaSpine Holdings Corporation has its P/E ratio at 1.5, 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 SeaSpine Holdings Corporation (NASDAQ:SPNE) will decrease by about -99.95%, which will see them reach $19.44 million. The company’s full-year revenues are, however, expected to diminish by about -16.01%, down from $159.08 million to $133.61 million. SPNE’s expected adjusted earnings should surge almost 15.63% to end up at -$0.74 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -9.18% to record -$1.88/share.