With the current price of $0.47, the stock of Aeterna Zentaris Inc. (NASDAQ:AEZS) concluded the trading session seeing its price drop by -0.03 points or at a loss of -5.7% compared to its previous day’s closing price of $0.5. About 6.738 million shares of the stock changed hands on the day. The trading volume of AEZS’s shares during the past session compares with the stock’s average daily trading volume of 4.345 million shares. On the other hand, a float of 21.85 million shares and a weekly performance of -8.24% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for AEZS’s share which suggests that the stock, price of which is currently buoying between $0.452 and $0.49, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $4.5 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Aeterna Zentaris Inc.’s stock is trending upward as short interest in AEZS shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the AEZS is currently comprised of 4.21% of the float as the volume of shorted shares inclined by 781981 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 1.702 million shares from the previous figure of 919630 shares. Stock’s average intraday volume is now standing at 7.144 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Aeterna Zentaris Inc. (NASDAQ:AEZS) is down -$0.0422 over the week and it is -$0.0072 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $2.57 that was attained on 08/29/19.
The stock has traded as low as $0.3697 in past 52-week, and its current price is 27.13% above from that 52-week low price mark recorded on 07/02/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.56. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 39.98 as 14-days RSI of Aeterna Zentaris Inc. This means that the AEZS is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 31.82%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $0.4893 for the AEZS’s share while placing it at a 2nd resistance point of $0.5087 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.4513 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.4327.
MACD oscillator is showing a reading of -0.0089 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Maxim Group maintained its Buy recommendation for AEZS stock in a review note dated July 19, but moved the price target up from $2 to $4. The stock gets a Buy recommendation from analysts at H.C. Wainwright who changed the target price from $7.50 to $3 in their May 10 note to investors.Maxim Group analysts reiterated their recommendation of Buy rating for the stock on May 01 while suggesting a price target of $2 which previously was $11.