The stock of TransEnterix, Inc. (NYSE:TRXC) is now priced at $0.44 and the shares are -0.02 points down or -3.82% lower compared to its previous closing price of $0.46. The stock had 2.141 million contracts set over the past session. TRXC shares’ daily volume is compared to its average trading volume at 6.259 million shares. However, it has a float of 41.2 million and although its performance was -9.89% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TRXC share price recently placing at $0.42 to $0.45. However, some brokerage firms have priced the stock below the average, including one that has called $1.75.
The shorts are running away from the TransEnterix, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the TRXC shares have declined. Short interest in the stock represents just 6.08% of its float, but the volume has dropped by 0.
In the last trading session, TransEnterix, Inc. (NYSE:TRXC) dropped by -$0.0483 over the week and gained $0.1136 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $14.43. The stock recorded its established 52-week high on 08/12/19.
Since 03/19/20, the stock has traded to a low of $0.28 at 57.18%, 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 2.64. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, TransEnterix, Inc.’s two-week RSI is 47.45. This suggests that the stock is neutral at the moment and that TRXC shares’ price movement remains stable. The stochastic readings are equally revealing at 57.98% meaning the TRXC share price is currently in neutral territory.
The technical chart shows that the TRXC stock will likely settle at between $0.4534 and $0.4667 per share. However, if the stock dips below $0.4234, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4067.
Currently, the stock is trading in the red of MACD, with a reading of -0.0116. 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 RBC Capital Mkts cut their recommendation for TRXC from Outperform to Sector Perform in August 08 review while maintai their target price of $3 to $1. Piper Jaffray analysts see the stock as a Neutral with a target price of $1.6 in a flash note released to investors on May 22 initiating covering the stock. BTIG Research seeing the improvements upgraded the stock from Neutral to Buy on May 14, placing it at $3.
The average rating for the TRXC equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking TransEnterix, Inc. polled by Reuters, 1 rated TRXC 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 43.2. TransEnterix, Inc. has its P/E ratio at 0.7, which means that the stock is currently trading at a discount relative to the 4.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for TransEnterix, Inc. (NYSE:TRXC) will decrease by about -30%, which will see them reach $420 million. The company’s full-year revenues are, however, expected to diminish by about -63.89%, down from $8.53 million to $3.08 million. TRXC’s expected adjusted earnings should drop almost -67.52% to end up at -$0.38 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -76.3% to record -$1/share.