The stock of Anixa Biosciences, Inc. (NASDAQ:ANIX) is now priced at $1.88 and the shares are -0.46 points down or -19.66% lower compared to its previous closing price of $2.34. The stock had 2.505 million contracts set over the past session. ANIX shares’ daily volume is compared to its average trading volume at 0.348 million shares. However, it has a float of 21.69 million and although its performance was -29.06% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ANIX share price recently placing at $1.7 to $2.36. However, some brokerage firms have priced the stock below the average, including one that has called $8.5.
The shorts are climbing into the Anixa Biosciences, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ANIX shares have risen. Short interest in the stock represents just 6.27% of its float, but the volume has raised by 50693. The volume of shorted shares rised to 1.41 million from 1.359 million shares over the last two weeks. The average intraday trading volume has been 197689 shares, which means that days to cover moved to roughly 7.131697.
In the last trading session, Anixa Biosciences, Inc. (NASDAQ:ANIX) dropped by -$0.77 over the week and lost -$0.96 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.439. The stock recorded its established 52-week high on 09/20/19.
Since 03/27/20, the stock has traded to a low of $1.33 at 41.35%, 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 1.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Anixa Biosciences, Inc.’s two-week RSI is 26.34. This suggests that the stock is overbought at the moment and that ANIX shares’ price movement remains not stable. The stochastic readings are equally revealing at 8.56% meaning the ANIX share price is currently in overbought territory.
The technical chart shows that the ANIX stock will likely settle at between $2.26 and $2.64 per share. However, if the stock dips below $1.6, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.32.
Currently, the stock is trading in the red of MACD, with a reading of -0.3011. 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.
The average rating for the ANIX equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Anixa Biosciences, Inc. polled by Reuters, 0 rated ANIX as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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 65.4. Anixa Biosciences, Inc. has its P/E ratio at 8.4, which means that the stock is currently trading at a premium relative to the 5.9 industry average.