The stock of Advaxis, Inc. (NASDAQ:ADXS) is now priced at $0.45 and the shares are -0.01 points down or -2.64% lower compared to its previous closing price of $0.46. The stock had 1.176 million contracts set over the past session. ADXS shares’ daily volume is compared to its average trading volume at 1.17 million shares. However, it has a float of 48.23 million and although its performance was -12.28% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ADXS share price recently placing at $0.432 to $0.48. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the Advaxis, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ADXS shares have declined. Short interest in the stock represents just 2.94% of its float, but the volume has dropped by -133834. The volume of shorted shares dropped to 1.416 million from 1.55 million shares over the last two weeks. The average intraday trading volume has been 1.012 million shares, which means that days to cover moved to roughly 1.399763.
In the last trading session, Advaxis, Inc. (NASDAQ:ADXS) dropped by -$0.063 over the week and lost -$0.1349 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.48. The stock recorded its established 52-week high on 01/07/20.
Since 09/25/19, the stock has traded to a low of $0.2051 at 119.41%, 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 3.59. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Advaxis, Inc.’s two-week RSI is 22.3. This suggests that the stock is overbought at the moment and that ADXS shares’ price movement remains not stable. The stochastic readings are equally revealing at 7.03% meaning the ADXS share price is currently in overbought territory.
The technical chart shows that the ADXS stock will likely settle at between $0.476 and $0.502 per share. However, if the stock dips below $0.428, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.406.
Currently, the stock is trading in the red of MACD, with a reading of -0.0367. 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 Barclays though raised target price of ADXS stock from $15 to $20 but maintained Overweight recommendation in their August 03 review. Barclays analysts see the stock as a Overweight with a target price of $40 in a flash note released to investors on September 22 initiating covering the stock. Guggenheim analysts see the stock as Buy when the analysts initiated the share price coverage on September 11, placing it at $30.
The average rating for the ADXS equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Advaxis, Inc. polled by Reuters, 0 rated ADXS as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.