The stock of Precigen, Inc. (NASDAQ:PGEN) is now priced at $5.04 and the shares are 0.59 points up or 13.26% higher compared to its previous closing price of $4.45. The stock had 1.612 million contracts set over the past session. PGEN shares’ daily volume is compared to its average trading volume at 2.054 million shares. However, it has a float of 145 million and although its performance was -1.56% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the PGEN share price recently placing at $4.41 to $5.06. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the Precigen, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PGEN shares have declined. Short interest in the stock represents just 19.69% of its float, but the volume has dropped by -596941. The volume of shorted shares dropped to 28.576 million from 29.173 million shares over the last two weeks. The average intraday trading volume has been 656857 shares, which means that days to cover moved to roughly 43.504085.
In the last trading session, Precigen, Inc. (NASDAQ:PGEN) dropped by -$0.08 over the week and gained $0.2 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.3. The stock recorded its established 52-week high on 08/19/19.
Since 03/17/20, the stock has traded to a low of $1.26 at 300%, 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 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Precigen, Inc.’s two-week RSI is 58.34. This suggests that the stock is neutral at the moment and that PGEN shares’ price movement remains stable. The stochastic readings are equally revealing at 41.47% meaning the PGEN share price is currently in neutral territory.
The technical chart shows that the PGEN stock will likely settle at between $5.26 and $5.49 per share. However, if the stock dips below $4.61, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.19.
Currently, the stock is trading in the red of MACD, with a reading of -0.14. 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 Maxim Group assigned PGEN a rating of Buy in their intiating review released on May 08.
The average rating for the PGEN equity is 2.33 and is currently gathering a bullish momentum. Of 3 analysts tracking Precigen, Inc. polled by Reuters, 1 rated PGEN 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Precigen, Inc. (NASDAQ:PGEN) will decrease by about -99.96%, which will see them reach $13.05 million. The company’s full-year revenues are, however, expected to diminish by about -2.02%, down from $90.72 million to $88.89 million. PGEN’s expected adjusted earnings should drop almost -55.88% to end up at -$0.15 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -59.79% to record -$0.76/share.