The stock of Materialise NV (NASDAQ:MTLS) is now priced at $27.4 and the shares are 1.23 points up or 4.7% higher compared to its previous closing price of $26.17. The stock had 107962 contracts set over the past session. MTLS shares’ daily volume is compared to its average trading volume at 123880 shares. However, it has a float of 8 million and although its performance was 16.4% over the week, it’s one to watch. Analysts have given the MTLS stock a yearly average price target of $14.56 per share. It means the stock’s downside potential is -46.86% with the MTLS share price recently placing at $26 to $27.78. However, some brokerage firms have priced the stock below the average, including one that has called $€14.53.

The shorts are running away from the Materialise NV stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the MTLS shares have declined. Short interest in the stock represents just 13.65% of its float, but the volume has dropped by -17915. The volume of shorted shares dropped to 1.092 million from 1.11 million shares over the last two weeks. The average intraday trading volume has been 145752 shares, which means that days to cover moved to roughly 7.49117.

In the last trading session, Materialise NV (NASDAQ:MTLS) raised by $3.86 over the week and gained $4.84 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $28.99. The stock recorded its established 52-week high on 06/10/20.

Since 03/16/20, the stock has traded to a low of $10.65 at 157.28%, 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 0.43. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Materialise NV’s two-week RSI is 66.87. This suggests that the stock is neutral at the moment and that MTLS shares’ price movement remains stable. The stochastic readings are equally revealing at 86.22% meaning the MTLS share price is currently in oversold territory.

The technical chart shows that the MTLS stock will likely settle at between $28.12 and $28.84 per share. However, if the stock dips below $26.34, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $25.28.

Currently, the stock is trading in the green of MACD, with a reading of 1.95. 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 Piper Sandler cut their recommendation for MTLS from Overweight to Neutral in April 07 review while maintai their target price of $20 to $15.50. KeyBanc Capital Markets analysts downgraded their recommendation of the stock from Overweight to Sector Weight in a flash note released to investors on January 10. FBR Capital analysts see the stock as Mkt Perform when the analysts initiated the share price coverage on May 24, placing it at $7.

The average rating for the MTLS equity is 3.6 and is currently gathering a bearish momentum. Of 4 analysts tracking Materialise NV polled by Reuters, 2 rated MTLS as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.

Elsewhere, the MTLS stock price is 268.63X ahead of its 12-month Consensus earnings per share estimates.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Materialise NV (NASDAQ:MTLS) will decrease by about -99.92%, which will see them reach $41.34 million. The company’s full-year revenues are, however, expected to diminish by about -15.34%, down from $218.18 million to $184.72 million. MTLS’s expected adjusted earnings should surge almost 500% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -400% to record -$0.09/share.

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