The stock of Veru Inc. (NASDAQ:VERU) is now priced at $2.83 and the shares are -0.1 points down or -3.41% lower compared to its previous closing price of $2.93. The stock had 1.013 million contracts set over the past session. VERU shares’ daily volume is compared to its average trading volume at 0.782 million shares. However, it has a float of 50.21 million and although its performance was -7.21% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the VERU share price recently placing at $2.8 to $2.96. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are running away from the Veru Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the VERU shares have declined. Short interest in the stock represents just 3.05% of its float, but the volume has dropped by -187660. The volume of shorted shares dropped to 1.533 million from 1.721 million shares over the last two weeks. The average intraday trading volume has been 446482 shares, which means that days to cover moved to roughly 3.434468.
In the last trading session, Veru Inc. (NASDAQ:VERU) dropped by -$0.22 over the week and lost -$0.53 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.74. The stock recorded its established 52-week high on 01/22/20.
Since 08/28/19, the stock has traded to a low of $1.67 at 69.46%, 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 0.36. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Veru Inc.’s two-week RSI is 37.59. This suggests that the stock is neutral at the moment and that VERU shares’ price movement remains stable. The stochastic readings are equally revealing at 13.79% meaning the VERU share price is currently in overbought territory.
The technical chart shows that the VERU stock will likely settle at between $2.93 and $3.02 per share. However, if the stock dips below $2.77, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.7.
Currently, the stock is trading in the red of MACD, with a reading of -0.13. 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 VERU stock from $4.50 to $6 but maintained Buy recommendation in their January 21 review. Oppenheimer analysts see the stock as a Outperform with a target price of $5 in a flash note released to investors on March 20 initiating covering the stock. Maxim Group analysts see the stock as Buy when the analysts initiated the share price coverage on July 03.
The average rating for the VERU equity is 1.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Veru Inc. polled by Reuters, 0 rated VERU 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 VERU stock price is 0X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Veru Inc. (NASDAQ:VERU) will decrease by about -99.89%, which will see them reach $0.011 billion. The company’s full-year revenues are, however, expected to increase by about 36.54%, up from $31.8 million to $43.42 million. VERU’s expected adjusted earnings should drop almost -25% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -31.58% to record -$0.13/share.