The stock of Northern Dynasty Minerals Ltd. (NYSE:NAK) is now priced at $1.72 and the shares are -0.22 points down or -11.34% lower compared to its previous closing price of $1.94. The stock had 35.931 million contracts set over the past session. NAK shares’ daily volume is compared to its average trading volume at 8.466 million shares. However, it has a float of 452 million and although its performance was -12.24% over the week, it’s one to watch. Analysts have given the NAK stock a yearly average price target of $2.51 per share. It means the stock’s upside potential is 45.93% with the NAK share price recently placing at $1.86 to $2.38. However, some brokerage firms have priced the stock below the average, including one that has called $1.68.
The shorts are running away from the Northern Dynasty Minerals Ltd. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the NAK shares have declined. Short interest in the stock represents just 6.58% of its float, but the volume has dropped by 0.
In the last trading session, Northern Dynasty Minerals Ltd. (NYSE:NAK) dropped by -$0.24 over the week and gained $0.26 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.49. The stock recorded its established 52-week high on 07/22/20.
Since 03/18/20, the stock has traded to a low of $0.35 at 391.43%, 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 2.21. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Northern Dynasty Minerals Ltd.’s two-week RSI is 51.5. This suggests that the stock is neutral at the moment and that NAK shares’ price movement remains stable. The stochastic readings are equally revealing at 53.8% meaning the NAK share price is currently in neutral territory.
The technical chart shows that the NAK stock will likely settle at between $1.9133 and $2.1067 per share. However, if the stock dips below $1.5533, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.3867.
Currently, the stock is trading in the green of MACD, with a reading of 0.0744. 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 NAK a rating of Buy in their intiating review released on October 19. Gabelli & Co analysts see the stock as a Buy with a target price of $3 in a flash note released to investors on December 21 initiating covering the stock. Canaccord Adams seeing the stock struggling downgraded it from Hold to Sell on April 07.
The average rating for the NAK equity is 2.25 and is currently gathering a bullish momentum. Of 4 analysts tracking Northern Dynasty Minerals Ltd. polled by Reuters, 1 rated NAK 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.