JKS Stock
JKS Stock

The stock of 9 Meters Biopharma, Inc. (NASDAQ:NMTR) is now priced at $0.61 and the shares are 0.04 points up or 5.99% higher compared to its previous closing price of $0.57. The stock had 2.979 million contracts set over the past session. NMTR shares’ daily volume is compared to its average trading volume at 5.926 million shares. However, it has a float of 98.6 million and although its performance was -8.22% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the NMTR share price recently placing at $0.5802 to $0.629. However, some brokerage firms have priced the stock below the average, including one that has called $5.

The shorts are running away from the 9 Meters Biopharma, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the NMTR shares have declined. Short interest in the stock represents just 2% of its float, but the volume has dropped by -244393. The volume of shorted shares dropped to 1.974 million from 2.219 million shares over the last two weeks. The average intraday trading volume has been 527560 shares, which means that days to cover moved to roughly 3.74264.

Looking at current readings, 9 Meters Biopharma, Inc.’s two-week RSI is 49.93. This suggests that the stock is neutral at the moment and that NMTR shares’ price movement remains stable. The stochastic readings are equally revealing at 21.89% meaning the NMTR share price is currently in overbought territory.

The technical chart shows that the NMTR stock will likely settle at between $0.6294 and $0.6536 per share. However, if the stock dips below $0.5806, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.556.

Currently, the stock is trading in the red of MACD, with a reading of -0.0644. 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 NMTR equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking 9 Meters Biopharma, Inc. polled by Reuters, 0 rated NMTR 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.


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