With the current price of $65.33,the stock of Ontrak,Inc. (NASDAQ:OTRK) concluded the trading session seeing its price rise by 11.78 points or at a gain of 22% compared to its previous day’s closing price of $53.55. About 1.801 million shares of the stock changed hands on the day. The trading volume of OTRK’s shares during the past session compares with the stock’s average daily trading volume of 0.476 million shares. On the other hand,a float of 7.25 million shares and a weekly performance of 43.77% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $50 for OTRK’s share which suggests that the stock,price of which is currently buoying between $52.54 and $67.7739,is prone to a loss of -23.47%. But still,there are some analysts recommending a price below the agreed average price and one of them has given a target price of $30 to the stock.
The latest data released on July 31,2020 shows that the short float in the Ontrak,Inc.’s stock is trending downward as short interest in OTRK shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the OTRK is currently comprised of 47.03% of the float as the volume of shorted shares declined by -172506 shares. Over the past two weeks,stock’s short interests improved as number of shorted shares reduced to 3.409 million shares from the previous figure of 3.581 million shares. Stock’s average intraday volume is now standing at 386979 shares which indicate that the days to cover the shorts are nearly 8.809041.
After concluding the day’s trading,price of Ontrak,Inc. (NASDAQ:OTRK) is up $17.71 over the week and it is $28.64 above 20-day average price. The highest price touched by the stock on the day was higher than 52-week high price of $65.68 that was attained on 08/19/20.
The stock has traded as low as $8.55 in past 52-week,and its current price is 664.09% above from that 52-week low price mark recorded on 03/23/20,which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 2.22. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 76.14 as 14-days RSI of Ontrak,Inc. This means that the OTRK is currently in an oversold territory and its share’s price movement is likely to be shaky for a while. Similarly,the stochastic oscillator is indicating a momentum of 72.29%,implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $68.37 for the OTRK’s share while placing it at a 2nd resistance point of $73.6 to be settled at. But if the stock takes a plunge lower than the 1st support price of $55.23 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $47.32.
MACD oscillator is showing a reading of 3.48 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average,which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Cowen started covering the OTRK stock on July 16,recommending Outperform rating for it while assigning the price target of $36.
The average rating of 1.6 for OTRK is placing the stock in bullish category at the moment. In a poll by Reuters including 5 analysts in it who kept tracking the Ontrak,Inc.,0 rated the stock as hold. Others were in different opinions for the OTRK. Out of remaining 5 analysts,5 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that OTRK stock is lagging behind earnings per share estimates with a price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 31.7. A comparison of Ontrak,Inc.’s trailing 12-months P/E ratio of 0 implies that it is trading above the industry’s average P/E ratio,which currently is 5.1.
Projection by Zacks Consensus Estimates suggests that Ontrak,Inc. (NASDAQ:OTRK) will see its current-quarter revenues drop by nearly -99.85% to be decreased to about $25.25 million. Full-year revenue of the company is however forecasted to be increased by nearly 152.38% to bring $88.56 million in revenues against last year revenue of $35.09 million. Earnings,after adjustments,are likely to fell by -46.15% to post an EPS of -$0.28,while estimate for company’s full year earnings is -$1.31 per share with a growth rate of -16.03%.