With the current price of $2.33, the stock of Can-Fite BioPharma Ltd. (NYSE:CANF) concluded the trading session seeing its price drop by -0.24 points or at a loss of -9.34% compared to its previous day’s closing price of $2.57. About 1.302 million shares of the stock changed hands on the day. The trading volume of CANF’s shares during the past session compares with the stock’s average daily trading volume of 1.638 million shares. On the other hand, a float of 7.82 million shares and a weekly performance of 6.39% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for CANF’s share which suggests that the stock, price of which is currently buoying between $2.25 and $2.48, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $5 to the stock.
The latest data released on July 31, 2020 shows that the short float in the Can-Fite BioPharma Ltd.’s stock is trending downward as short interest in CANF shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the CANF is currently comprised of 6.27% of the float.
After concluding the day’s trading, price of Can-Fite BioPharma Ltd. (NYSE:CANF) is up $0.14 over the week and it is -$0.05 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $4.95 that was attained on 12/02/19.
The stock has traded as low as $1.08 in past 52-week, and its current price is 115.74% above from that 52-week low price mark recorded on 02/12/20, 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 0. 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 51.8 as 14-days RSI of Can-Fite BioPharma Ltd. This means that the CANF is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 60.09%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $2.46 for the CANF’s share while placing it at a 2nd resistance point of $2.58 to be settled at. But if the stock takes a plunge lower than the 1st support price of $2.23 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $2.12.
MACD oscillator is showing a reading of 0.14 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.
Maxim Group started covering the CANF stock on August 11, recommending Buy rating for it while assigning the price target of $7. The stock gets a Buy recommendation from analysts at ROTH Capital who resumed covering the stock in their October 19 note to investors.Rodman & Renshaw analysts resumed covering the stock with recommendation of Buy rating on August 29, while suggesting a price target of $6 to it.
The average rating of 2 for CANF is placing the stock in bullish category at the moment. In a poll by Reuters including 2 analysts in it who kept tracking the Can-Fite BioPharma Ltd., 0 rated the stock as hold. Others were in different opinions for the CANF. Out of remaining 2 analysts, 2 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.
Projection by Zacks Consensus Estimates suggests that Can-Fite BioPharma Ltd. (NYSE:CANF) will see its current-quarter revenues drop by nearly -63.9% to be decreased to about $250 million. Full-year revenue of the company is however forecasted to be increased by nearly 46698.03% to bring $950 million in revenues against last year revenue of $2.03 million. Earnings, after adjustments, are likely to fell by -74.02% to post an EPS of -$0.33, while estimate for company’s full year earnings is -$1.75 per share with a growth rate of -46.97%.