The stock of Fluidigm Corporation (NASDAQ:FLDM) is now priced at $8.72 and the shares are 0.81 points up or 10.24% higher compared to its previous closing price of $7.91. The stock had 7.633 million contracts set over the past session. FLDM shares’ daily volume is compared to its average trading volume at 3.221 million shares. However, it has a float of 70.31 million and although its performance was 15.34% over the week, it’s one to watch. Analysts have given the FLDM stock a yearly average price target of $12.67 per share. It means the stock’s upside potential is 45.3% with the FLDM share price recently placing at $7.77 to $9.2. However, some brokerage firms have priced the stock below the average, including one that has called $12.
The shorts are running away from the Fluidigm Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the FLDM shares have declined. Short interest in the stock represents just 4.45% of its float, but the volume has dropped by -80038. The volume of shorted shares dropped to 3.127 million from 3.207 million shares over the last two weeks. The average intraday trading volume has been 1.297 million shares, which means that days to cover moved to roughly 2.410741.
In the last trading session, Fluidigm Corporation (NASDAQ:FLDM) raised by $1.16 over the week and gained $3.13 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.26. The stock recorded its established 52-week high on 07/31/20.
Since 03/20/20, the stock has traded to a low of $1.17 at 645.3%, 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 2.18. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Fluidigm Corporation’s two-week RSI is 68.79. This suggests that the stock is neutral at the moment and that FLDM shares’ price movement remains stable. The stochastic readings are equally revealing at 71.13% meaning the FLDM share price is currently in oversold territory.
The technical chart shows that the FLDM stock will likely settle at between $9.36 and $9.99 per share. However, if the stock dips below $7.93, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.13.
Currently, the stock is trading in the green of MACD, with a reading of 0.22. 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 Janney cut their recommendation for FLDM from Buy to Neutral in November 06 review. UBS analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $14 to $7 in a flash note released to investors on October 18. UBS analysts see the stock as Neutral when the analysts initiated the share price coverage on March 15, placing it at $14.
The average rating for the FLDM equity is 1.67 and is currently gathering a bullish momentum. Of 3 analysts tracking Fluidigm Corporation polled by Reuters, 0 rated FLDM as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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 65.7. Fluidigm Corporation has its P/E ratio at 4.7, which means that the stock is currently trading at a discount relative to the 5.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Fluidigm Corporation (NASDAQ:FLDM) will decrease by about -99.87%, which will see them reach $32.94 million. The company’s full-year revenues are, however, expected to increase by about 9.98%, up from $117 million to $129 million. FLDM’s expected adjusted earnings should surge almost 0% to end up at -$0.19 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -25.77% to record -$0.72/share.