The stock of Precipio, Inc. (NASDAQ:PRPO) is now priced at $3.16 and the shares are -0.3 points down or -8.67% lower compared to its previous closing price of $3.46. The stock had 2.15 million contracts set over the past session. PRPO shares’ daily volume is compared to its average trading volume at 3.85 million shares. However, it has a float of 10.98 million and although its performance was 0.64% over the week, it’s one to watch. Analysts have given the PRPO stock a yearly average price target of $4.15 per share. It means the stock’s upside potential is 31.33% with the PRPO share price recently placing at $3 to $3.44. However, some brokerage firms have priced the stock below the average, including one that has called $2.

The shorts are running away from the Precipio, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the PRPO shares have declined. Short interest in the stock represents just 7.73% of its float, but the volume has dropped by -134737. The volume of shorted shares dropped to 848943 from 983680 shares over the last two weeks. The average intraday trading volume has been 595770 shares, which means that days to cover moved to roughly 1.424951.

In the last trading session, Precipio, Inc. (NASDAQ:PRPO) raised by $0.02 over the week and gained $1.98 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $8. The stock recorded its established 52-week high on 07/30/20.

Since 04/24/20, the stock has traded to a low of $0.55 at 474.55%, 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 4.04. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Precipio, Inc.’s two-week RSI is 55.48. This suggests that the stock is neutral at the moment and that PRPO shares’ price movement remains stable. The stochastic readings are equally revealing at 33.23% meaning the PRPO share price is currently in neutral territory.

The technical chart shows that the PRPO stock will likely settle at between $3.4 and $3.64 per share. However, if the stock dips below $2.96, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.76.

Currently, the stock is trading in the green of MACD, with a reading of 0.11. 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 PRPO equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Precipio, Inc. polled by Reuters, 0 rated PRPO 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.

The stocks P/S ratio currently stands below the group’s average of 64.3. Precipio, Inc. has its P/E ratio at 4.1, which means that the stock is currently trading at a discount relative to the 5.9 industry average.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Precipio, Inc. (NASDAQ:PRPO) will decrease by about -25.99%, which will see them reach $900 million. The company’s full-year revenues are, however, expected to increase by about 79.55%, up from $3.13 million to $5.62 million. PRPO’s expected adjusted earnings should drop almost -80.95% to end up at -$0.2 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -54.51% to record -$1.06/share.

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