The stock of S&W Seed Company (NASDAQ:SANW) is now priced at $2.41 and the shares are -0.19 points down or -7.31% lower compared to its previous closing price of $2.6. The stock had 107236 contracts set over the past session. SANW shares’ daily volume is compared to its average trading volume at 65201 shares. However, it has a float of 32.11 million and although its performance was -3.6% over the week, it’s one to watch. SANW share price recently placing at $2.4 to $2.6. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the S&W Seed Company stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the SANW shares have declined. Short interest in the stock represents just 0.04% of its float, but the volume has dropped by -2338. The volume of shorted shares dropped to 12659 from 14997 shares over the last two weeks. The average intraday trading volume has been 23758 shares, which means that days to cover moved to roughly 1.
In the last trading session, S&W Seed Company (NASDAQ:SANW) dropped by -$0.09 over the week and gained $0.16 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.98. The stock recorded its established 52-week high on 07/07/20.
Since 05/14/20, the stock has traded to a low of $1.67 at 44.31%, 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 0.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, S&W Seed Company’s two-week RSI is 46.83. This suggests that the stock is neutral at the moment and that SANW shares’ price movement remains stable. The stochastic readings are equally revealing at 19.51% meaning the SANW share price is currently in overbought territory.
The technical chart shows that the SANW stock will likely settle at between $2.54 and $2.67 per share. However, if the stock dips below $2.34, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.27.
Currently, the stock is trading in the red of MACD, with a reading of -0.1. 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 B. Riley FBR though raised target price of SANW stock from $3.50 to $4.80 but maintained Buy recommendation in their June 10 review. ROTH Capital analysts see the stock as a Buy, but they also raised the share’s target price from $6 to $8 in a flash note released to investors on January 12. ROTH Capital analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on November 12, placing it at $6 from $10.
The average rating for the SANW equity is 1.67 and is currently gathering a bullish momentum. Of 3 analysts tracking S&W Seed Company polled by Reuters, 0 rated SANW as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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 S&W Seed Company (NASDAQ:SANW) will decrease by about -99.91%, which will see them reach $25.73 million. The company’s full-year revenues are, however, expected to diminish by about -27.6%, down from $109.72 million to $79.44 million. SANW’s expected adjusted earnings should drop almost -112.24% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -238.24% to record -$0.47/share.