The stock of Yunji Inc. (NASDAQ:YJ) is now priced at $2.69 and the shares are 0 points down or 0% lower compared to its previous closing price of $2.69. The stock had 105947 contracts set over the past session. YJ shares’ daily volume is compared to its average trading volume at 0.202 million shares. However, it has a float of 28.88 million and although its performance was -16.98% over the week, it’s one to watch. YJ share price recently placing at $2.6401 to $2.79. However, some brokerage firms have priced the stock below the average, including one that has called $¥35.50.
The shorts are running away from the Yunji Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the YJ shares have declined. Short interest in the stock represents just 0.2% of its float, but the volume has dropped by -105842. The volume of shorted shares dropped to 58929 from 164771 shares over the last two weeks. The average intraday trading volume has been 162749 shares, which means that days to cover moved to roughly 1.
In the last trading session, Yunji Inc. (NASDAQ:YJ) dropped by -$0.55 over the week and lost -$0.11 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11. The stock recorded its established 52-week high on 07/18/19.
Since 06/22/20, the stock has traded to a low of $2.5 at 7.6%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Yunji Inc.’s two-week RSI is 42.29. This suggests that the stock is neutral at the moment and that YJ shares’ price movement remains stable. The stochastic readings are equally revealing at 17.3% meaning the YJ share price is currently in overbought territory.
The technical chart shows that the YJ stock will likely settle at between $2.77 and $2.86 per share. However, if the stock dips below $2.62, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.56.
Currently, the stock is trading in the red of MACD, with a reading of -0.13. 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 Credit Suisse cut their recommendation for YJ from Outperform to Neutral in March 25 review. Morgan Stanley analysts downgraded their recommendation of the stock from Overweight to Equal-Weight in a flash note released to investors on February 05. Morgan Stanley seeing the stock struggling downgraded it from Overweight to Equal-Weight on February 04.
The average rating for the YJ equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Yunji Inc. polled by Reuters, 2 rated YJ as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) 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 YJ stock price is 16.71X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 75.9. Yunji Inc. has its P/E ratio at 2.7, which means that the stock is currently trading at a discount relative to the 14.1 industry average.