The stock of Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) is now priced at $4.75 and the shares are -0.15 points down or -3.06% lower compared to its previous closing price of $4.9. GLMD it has a float of 16.54 million and although its performance was 3.81% over the week, it’s one to watch. GLMD share price recently placing at $4.87 to $5.15. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are climbing into the Galmed Pharmaceuticals Ltd. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the GLMD shares have risen. Short interest in the stock represents just 2.81% of its float, but the volume has raised by 89435. The volume of shorted shares rised to 465462 from 376027 shares over the last two weeks. The average intraday trading volume has been 55553 shares, which means that days to cover moved to roughly 8.378701.
In the last trading session, Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) dropped by -$0.9 over the week and lost -$0.44 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.38. The stock recorded its established 52-week high on 12/04/19.
Since 03/19/20, the stock has traded to a low of $3.02 at 57.28%, 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 2.51. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Galmed Pharmaceuticals Ltd.’s two-week RSI is 44.78. This suggests that the stock is neutral at the moment and that GLMD shares’ price movement remains stable. The stochastic readings are equally revealing at 29.02% meaning the GLMD share price is currently in overbought territory.
The technical chart shows that the GLMD stock will likely settle at between $5.08 and $5.25 per share. However, if the stock dips below $4.8, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.69.
Analysts at B. Riley FBR cut their recommendation for GLMD from Buy to Neutral in May 22 review while maintai their target price of $11 to $8. Craig Hallum analysts see the stock as a Buy with a target price of $18 in a flash note released to investors on February 04 initiating covering the stock. Cantor Fitzgerald analysts see the stock as Overweight when the analysts resumed the share price coverage on January 30, placing it at $9 to $14.
The average rating for the GLMD equity is 1.88 and is currently gathering a bullish momentum. Of 7 analysts tracking Galmed Pharmaceuticals Ltd. polled by Reuters, 1 rated GLMD as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) 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.