The stock of Osmotica Pharmaceuticals plc (NASDAQ:OSMT) is now priced at $8.77 and the shares are 1.77 points up or 25.29% higher compared to its previous closing price of $7. The stock had 4.737 million contracts set over the past session. OSMT shares’ daily volume is compared to its average trading volume at 410157 shares. However, it has a float of 11.07 million and although its performance was 35.55% over the week, it’s one to watch. Analysts have given the OSMT stock a yearly average price target of $8 per share. It means the stock’s downside potential is -8.78% with the OSMT share price recently placing at $7 to $9.67. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are climbing into the Osmotica Pharmaceuticals plc stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the OSMT shares have risen. Short interest in the stock represents just 5.47% of its float, but the volume has raised by 262916. The volume of shorted shares rised to 868198 from 605282 shares over the last two weeks. The average intraday trading volume has been 421849 shares, which means that days to cover moved to roughly 2.058078.
In the last trading session, Osmotica Pharmaceuticals plc (NASDAQ:OSMT) raised by $2.3 over the week and gained $3.21 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.67. The stock recorded its established 52-week high on 07/10/20.
Since 08/23/19, the stock has traded to a low of $2.7 at 224.81%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Osmotica Pharmaceuticals plc’s two-week RSI is 75.04. This suggests that the stock is oversold at the moment and that OSMT shares’ price movement remains not stable. The stochastic readings are equally revealing at 61.4% meaning the OSMT share price is currently in neutral territory.
The technical chart shows that the OSMT stock will likely settle at between $9.96 and $11.15 per share. However, if the stock dips below $7.29, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.81.
Currently, the stock is trading in the green of MACD, with a reading of 0.5. 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 OSMT a rating of Buy in their intiating review released on March 18. SVB Leerink analysts see the stock as a Outperform with a target price of $10 in a flash note released to investors on March 06 initiating covering the stock. Barclays analysts see the stock as Overweight when the analysts initiated the share price coverage on June 11, placing it at $11.
The average rating for the OSMT equity is 1.83 and is currently gathering a bullish momentum. Of 6 analysts tracking Osmotica Pharmaceuticals plc polled by Reuters, 1 rated OSMT as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Osmotica Pharmaceuticals plc (NASDAQ:OSMT) will decrease by about -99.92%, which will see them reach $40.56 million. The company’s full-year revenues are, however, expected to diminish by about -27.38%, down from $240.03 million to $174.3 million. OSMT’s expected adjusted earnings should drop almost -92.83% to end up at -$0.17 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -88.39% to record -$0.6/share.