The stock of Lipocine Inc. (NASDAQ:LPCN) is now priced at $1.44 and the shares are -0.04 points down or -2.7% lower compared to its previous closing price of $1.48. The stock had 1.148 million contracts set over the past session. LPCN shares’ daily volume is compared to its average trading volume at 1.79 million shares. However, it has a float of 46.11 million and although its performance was -5.88% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the LPCN share price recently placing at $1.42 to $1.52. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Lipocine Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the LPCN shares have declined. Short interest in the stock represents just 1.73% of its float, but the volume has dropped by -223480. The volume of shorted shares dropped to 795667 from 1.019 million shares over the last two weeks. The average intraday trading volume has been 1.676 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Lipocine Inc. (NASDAQ:LPCN) dropped by -$0.09 over the week and gained $0.37 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.45. The stock recorded its established 52-week high on 09/09/19.
Since 03/18/20, the stock has traded to a low of $0.301 at 378.41%, 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 0.4. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Lipocine Inc.’s two-week RSI is 61.43. This suggests that the stock is neutral at the moment and that LPCN shares’ price movement remains stable. The stochastic readings are equally revealing at 81.67% meaning the LPCN share price is currently in oversold territory.
The technical chart shows that the LPCN stock will likely settle at between $1.48 and $1.52 per share. However, if the stock dips below $1.41, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.38.
Currently, the stock is trading in the green of MACD, with a reading of 0.0456. 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 H.C. Wainwright though raised target price of LPCN stock from $10 to $3 but maintained Buy recommendation in their January 12 review. Canaccord Genuity analysts downgraded their recommendation of the stock from Buy to Hold while keeping its target price at $11 to $2 in a flash note released to investors on January 11. H.C. Wainwright analysts see the stock as Buy when the analysts resumed the share price coverage on December 08, placing it at $10.
The average rating for the LPCN equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Lipocine Inc. polled by Reuters, 0 rated LPCN as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.