The stock of Interpace Biosciences, Inc. (NASDAQ:IDXG) is now priced at $6.23 and the shares are 0.27 points up or 4.53% higher compared to its previous closing price of $5.96. The stock had 4.487 million contracts set over the past session. IDXG shares’ daily volume is compared to its average trading volume at 345847 shares. However, it has a float of 3.96 million and although its performance was 13.07% over the week, it’s one to watch. The stock’s downside potential is -100% with the IDXG share price recently placing at $6.03 to $8.32. However, some brokerage firms have priced the stock below the average, including one that has called $9.25.
The shorts are climbing into the Interpace Biosciences, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the IDXG shares have risen. Short interest in the stock represents just 2.95% of its float, but the volume has raised by 67829. The volume of shorted shares rised to 184930 from 117101 shares over the last two weeks. The average intraday trading volume has been 940263 shares, which means that days to cover moved to roughly 1.
In the last trading session, Interpace Biosciences, Inc. (NASDAQ:IDXG) raised by $0.72 over the week and gained $0.87 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 02/21/20.
Since 11/26/19, the stock has traded to a low of $3.81 at 63.52%, 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 1.66. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Interpace Biosciences, Inc.’s two-week RSI is 59.59. This suggests that the stock is neutral at the moment and that IDXG shares’ price movement remains stable. The stochastic readings are equally revealing at 58.5% meaning the IDXG share price is currently in neutral territory.
The technical chart shows that the IDXG stock will likely settle at between $7.69 and $9.15 per share. However, if the stock dips below $5.4, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.57.
Currently, the stock is trading in the green of MACD, with a reading of 0.49. 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 IDXG a rating of Buy in their intiating review released on April 15. Oppenheimer analysts see the stock as a Outperform with a target price of $3 in a flash note released to investors on September 26 initiating covering the stock. Laidlaw analysts see the stock as Buy when the analysts initiated the share price coverage on February 22, placing it at $4.5.
The average rating for the IDXG equity is 1.5 and is currently gathering a bullish momentum. Of 5 analysts tracking Interpace Biosciences, Inc. polled by Reuters, 0 rated IDXG as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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 IDXG stocks P/S ratio currently stands below the group’s average of 60.4. Interpace Biosciences, Inc. has its P/E ratio at 3.7, which means that the stock is currently trading at a discount relative to the 5.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Interpace Biosciences, Inc. (NASDAQ:IDXG) will decrease by about -99.94%, which will see them reach $5.87 million. The company’s full-year revenues are, however, expected to increase by about 40.2%, up from $24.08 million to $33.76 million. IDXG’s expected adjusted earnings should surge almost 5.71% to end up at -$1.48 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -29.66% to record -$5.1/share.