The stock of LiqTech International, Inc. (NASDAQ:LIQT) is now priced at $6.52 and the shares are 0.22 points up or 3.49% higher compared to its previous closing price of $6.3. The stock had 102598 contracts set over the past session. LIQT shares’ daily volume is compared to its average trading volume at 112463 shares. However, it has a float of 16.93 million and although its performance was 0.16% over the week, it’s one to watch. Analysts have given the LIQT stock a yearly average price target of $8 per share. It means the stock’s upside potential is 22.7% with the LIQT share price recently placing at $6.15 to $6.4. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are climbing into the LiqTech International, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the LIQT shares have risen. Short interest in the stock represents just 13.66% of its float, but the volume has raised by 65808. The volume of shorted shares rised to 2.312 million from 2.246 million shares over the last two weeks. The average intraday trading volume has been 60614 shares, which means that days to cover moved to roughly 38.135431.
In the last trading session, LiqTech International, Inc. (NASDAQ:LIQT) raised by $0.27 over the week and gained $0.76 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.41. The stock recorded its established 52-week high on 07/24/19.
Since 03/09/20, the stock has traded to a low of $2.95 at 121.02%, 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 1.17. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, LiqTech International, Inc.’s two-week RSI is 65.52. This suggests that the stock is neutral at the moment and that LIQT shares’ price movement remains stable. The stochastic readings are equally revealing at 86.83% meaning the LIQT share price is currently in oversold territory.
The technical chart shows that the LIQT stock will likely settle at between $6.42 and $6.53 per share. However, if the stock dips below $6.17, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.03.
Currently, the stock is trading in the green of MACD, with a reading of 0.12. 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 LIQT a rating of Overweight in their intiating review released on July 09. B. Riley FBR analysts see the stock as a Buy with a target price of $3 in a flash note released to investors on March 01 initiating covering the stock. Lake Street analysts see the stock as Buy when the analysts initiated the share price coverage on December 04, placing it at $3.
The average rating for the LIQT equity is 1.75 and is currently gathering a bullish momentum. Of 4 analysts tracking LiqTech International, Inc. polled by Reuters, 0 rated LIQT as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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 LIQT stock price is 13.85X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 621.2 above the group’s average of 25.1. LiqTech International, Inc. has its P/E ratio at 6.1, which means that the stock is currently trading at a premium relative to the 3.4 industry average.