The stock of Aquestive Therapeutics, Inc. (NASDAQ:AQST) is now priced at $7.89 and the shares are -0.32 points down or -3.9% lower compared to its previous closing price of $8.21. The stock had 1.275 million contracts set over the past session. AQST shares’ daily volume is compared to its average trading volume at 0.882 million shares. However, it has a float of 29.57 million and although its performance was 4.02% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AQST share price recently placing at $7.4548 to $8.31. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are climbing into the Aquestive Therapeutics, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AQST shares have risen. Short interest in the stock represents just 7.89% of its float, but the volume has raised by 431730. The volume of shorted shares rised to 2.333 million from 1.901 million shares over the last two weeks. The average intraday trading volume has been 531924 shares, which means that days to cover moved to roughly 4.385822.
In the last trading session, Aquestive Therapeutics, Inc. (NASDAQ:AQST) raised by $0.3 over the week and gained $2.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $10. The stock recorded its established 52-week high on 12/02/19.
Since 03/16/20, the stock has traded to a low of $1.41 at 459.57%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Aquestive Therapeutics, Inc.’s two-week RSI is 67.12. This suggests that the stock is neutral at the moment and that AQST shares’ price movement remains stable. The stochastic readings are equally revealing at 79% meaning the AQST share price is currently in oversold territory.
The technical chart shows that the AQST stock will likely settle at between $8.32 and $8.74 per share. However, if the stock dips below $7.46, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.03.
Currently, the stock is trading in the green of MACD, with a reading of 0.59. 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 Maxim Group assigned AQST a rating of Buy in their intiating review released on April 22. Lake Street analysts see the stock as a Buy with a target price of $14 in a flash note released to investors on January 03 initiating covering the stock. RBC Capital Mkts analysts see the stock as Outperform when the analysts initiated the share price coverage on August 20, placing it at $23.
The average rating for the AQST equity is 1.83 and is currently gathering a bullish momentum. Of 6 analysts tracking Aquestive Therapeutics, Inc. polled by Reuters, 0 rated AQST as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Aquestive Therapeutics, Inc. (NASDAQ:AQST) will decrease by about -99.96%, which will see them reach $8.79 million. The company’s full-year revenues are, however, expected to diminish by about -8.99%, down from $52.61 million to $47.88 million. AQST’s expected adjusted earnings should drop almost -40.54% to end up at -$0.44 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -43.3% to record -$1.48/share.