With the current price of $0.28, the stock of Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI) concluded the trading session seeing its price drop by -0.02 points or at a loss of -6.62% compared to its previous day’s closing price of $0.3. The trading volume of HJLI’s shares has a float of 18.19 million shares and a weekly performance of -13.44% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for HJLI’s share which suggests that the stock, price of which is currently buoying between $0.2711 and $0.3048, 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 $3 to the stock.
The latest data released on July 31, 2020 shows that the short float in the Hancock Jaffe Laboratories, Inc.’s stock is trending downward as short interest in HJLI shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the HJLI is currently comprised of 4.04% of the float as the volume of shorted shares declined by -235016 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 734500 shares from the previous figure of 969516 shares. Stock’s average intraday volume is now standing at 4.688 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI) is down -$0.0436 over the week and it is -$0.0732 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $1.08 that was attained on 08/29/19.
The stock has traded as low as $0.2111 in past 52-week, and its current price is 33.02% above from that 52-week low price mark recorded on 03/24/20, 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 35 as 14-days RSI of Hancock Jaffe Laboratories, Inc. This means that the HJLI 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 4.01%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $0.3 for the HJLI’s share while placing it at a 2nd resistance point of $0.3193 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.2663 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.2519.
MACD oscillator is showing a reading of -0.0354 for the stock which means that it is currently in the red 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 HJLI stock on August 06, recommending Buy rating for it while assigning the price target of $3.
A quick look at other side of the picture shows that HJLI stock is lagging behind earnings per share estimates with a current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 43.6. A comparison of Hancock Jaffe Laboratories, Inc.’s trailing 12-months P/E ratio of 29.1 implies that it is trading above the industry’s average P/E ratio, which currently is 4.6.