The stock of Advaxis, Inc. (NASDAQ:ADXS) is now priced at $0.57 and the shares are -0.01 points down or -1.28% lower compared to its previous closing price of $0.58. The stock had 1.329 million contracts set over the past session. ADXS shares’ daily volume is compared to its average trading volume at 1.243 million shares. However, it has a float of 52.71 million and although its performance was -2.05% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ADXS share price recently placing at $0.5651 to $0.6195. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Advaxis, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the ADXS shares have risen. Short interest in the stock represents just 2.94% of its float, but the volume has raised by 1319. The volume of shorted shares rised to 1.55 million from 1.548 million shares over the last two weeks. The average intraday trading volume has been 533106 shares, which means that days to cover moved to roughly 2.907064.
In the last trading session, Advaxis, Inc. (NASDAQ:ADXS) dropped by -$0.012 over the week and gained $0.0071 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.48. The stock recorded its established 52-week high on 01/07/20.
Since 09/25/19, the stock has traded to a low of $0.2051 at 179.33%, 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 3.53. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Advaxis, Inc.’s two-week RSI is 41.98. This suggests that the stock is neutral at the moment and that ADXS shares’ price movement remains stable. The stochastic readings are equally revealing at 45.45% meaning the ADXS share price is currently in neutral territory.
The technical chart shows that the ADXS stock will likely settle at between $0.6066 and $0.6402 per share. However, if the stock dips below $0.5522, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.5314.
Currently, the stock is trading in the red of MACD, with a reading of -0.0092. 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 Barclays though raised target price of ADXS stock from $15 to $20 but maintained Overweight recommendation in their August 03 review. Barclays analysts see the stock as a Overweight with a target price of $40 in a flash note released to investors on September 22 initiating covering the stock. Guggenheim analysts see the stock as Buy when the analysts initiated the share price coverage on September 11, placing it at $30.
The average rating for the ADXS equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Advaxis, Inc. polled by Reuters, 0 rated ADXS 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.