The stock of Alpha Pro Tech, Ltd. (NYSE:APT) is now priced at $18.24 and the shares are 0.39 points up or 2.18% higher compared to its previous closing price of $17.85. The stock had 2.016 million contracts set over the past session. APT shares’ daily volume is compared to its average trading volume at 3.809 million shares. However, it has a float of 12.27 million and although its performance was -16.21% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the APT share price recently placing at $17.98 to $19.48. However, some brokerage firms have priced the stock below the average, including one that has called $2.5.
The shorts are running away from the Alpha Pro Tech, Ltd. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the APT shares have declined. Short interest in the stock represents just 37.95% of its float, but the volume has dropped by 0.
In the last trading session, Alpha Pro Tech, Ltd. (NYSE:APT) dropped by -$3.53 over the week and gained $0.66 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $41.59. The stock recorded its established 52-week high on 02/28/20.
Since 12/04/19, the stock has traded to a low of $3.2 at 470%, 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 -0.79. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Alpha Pro Tech, Ltd.’s two-week RSI is 46.56. This suggests that the stock is neutral at the moment and that APT shares’ price movement remains stable. The stochastic readings are equally revealing at 6.37% meaning the APT share price is currently in overbought territory.
The technical chart shows that the APT stock will likely settle at between $19.15 and $20.07 per share. However, if the stock dips below $17.65, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $17.07.
Currently, the stock is trading in the red of MACD, with a reading of -2.81. 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 Dougherty & Company cut their recommendation for APT from Buy to Neutral in March 30 review while maintai their target price of $5 to $2.50. Dougherty & Company analysts see the stock as a Buy with a target price of $10 in a flash note released to investors on October 16 initiating covering the stock.
The stocks P/S ratio currently stands at 20.3 below the group’s average of 62.4. Alpha Pro Tech, Ltd. has its P/E ratio at 5.3, which means that the stock is currently trading at a premium relative to the 4.5 industry average.