The stock of Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) is now priced at $1.29 and the shares are 0.03 points up or 2.38% higher compared to its previous closing price of $1.26. The stock had 3.87 million contracts set over the past session. CTXR shares’ daily volume is compared to its average trading volume at 3.147 million shares. However, it has a float of 32.88 million and although its performance was -3.73% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CTXR share price recently placing at $1.23 to $1.37. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the Citius Pharmaceuticals, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the CTXR shares have declined. Short interest in the stock represents just 4.34% of its float, but the volume has dropped by -1833452. The volume of shorted shares dropped to 1.428 million from 3.261 million shares over the last two weeks. The average intraday trading volume has been 2.308 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) dropped by -$0.05 over the week and lost -$0.1 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.97. The stock recorded its established 52-week high on 06/26/20.
Since 12/05/19, the stock has traded to a low of $0.4 at 222.5%, 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 1.81. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Citius Pharmaceuticals, Inc.’s two-week RSI is 50.34. This suggests that the stock is neutral at the moment and that CTXR shares’ price movement remains stable. The stochastic readings are equally revealing at 22.59% meaning the CTXR share price is currently in overbought territory.
The technical chart shows that the CTXR stock will likely settle at between $1.3633 and $1.4367 per share. However, if the stock dips below $1.2233, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.1567.
Currently, the stock is trading in the red of MACD, with a reading of -0.0544. 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.
The average rating for the CTXR equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Citius Pharmaceuticals, Inc. polled by Reuters, 0 rated CTXR as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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 CTXR stock price is 1.76X ahead of its 12-month Consensus earnings per share estimates.