The stock of MobileIron, Inc. (NASDAQ:MOBL) is now priced at $6.68 and the shares are -0.04 points down or -0.67% lower compared to its previous closing price of $6.72. The stock had 1.258 million contracts set over the past session. MOBL shares’ daily volume is compared to its average trading volume at 1.138 million shares. However, it has a float of 115 million and although its performance was 16.19% over the week, it’s one to watch. Analysts have given the MOBL stock a yearly average price target of $7.31 per share. It means the stock’s upside potential is 9.43% with the MOBL share price recently placing at $6.52 to $6.85. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are climbing into the MobileIron, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the MOBL shares have risen. Short interest in the stock represents just 3.43% of its float, but the volume has raised by 584641. The volume of shorted shares rised to 3.939 million from 3.354 million shares over the last two weeks. The average intraday trading volume has been 1.221 million shares, which means that days to cover moved to roughly 3.227109.
In the last trading session, MobileIron, Inc. (NASDAQ:MOBL) raised by $0.93 over the week and gained $0.84 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.79. The stock recorded its established 52-week high on 09/17/19.
Since 03/16/20, the stock has traded to a low of $2.94 at 127.04%, 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 1.46. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, MobileIron, Inc.’s two-week RSI is 68.73. This suggests that the stock is neutral at the moment and that MOBL shares’ price movement remains stable. The stochastic readings are equally revealing at 70.5% meaning the MOBL share price is currently in oversold territory.
The technical chart shows that the MOBL stock will likely settle at between $6.84 and $7.01 per share. However, if the stock dips below $6.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.35.
Currently, the stock is trading in the green of MACD, with a reading of 0.4. 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 Northland Capital cut their recommendation for MOBL from Outperform to Market Perform in May 06 review. Craig Hallum analysts see the stock as a Buy with a target price of $11 in a flash note released to investors on July 24 initiating covering the stock. Imperial Capital seeing the improvements upgraded the stock from In-line to Outperform on February 12, placing it at $4 to $5.75.
The average rating for the MOBL equity is 2.8 and is currently gathering a bullish momentum. Of 5 analysts tracking MobileIron, Inc. polled by Reuters, 2 rated MOBL as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.