The stock of Akers Biosciences, Inc. (NASDAQ:AKER) is now priced at $2.72 and the shares are -0.13 points down or -4.56% lower compared to its previous closing price of $2.85. The stock had 1.848 million contracts set over the past session. AKER shares’ daily volume is compared to its average trading volume at 1.2 million shares. However, it has a float of 8.3 million and although its performance was -48.19% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AKER share price recently placing at $2.63 to $2.89. However, some brokerage firms have priced the stock below the average, including one that has called $768.
The shorts are running away from the Akers Biosciences, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AKER shares have declined. Short interest in the stock represents just 2.14% of its float, but the volume has dropped by -8010. The volume of shorted shares dropped to 177694 from 185704 shares over the last two weeks. The average intraday trading volume has been 953103 shares, which means that days to cover moved to roughly 1.
In the last trading session, Akers Biosciences, Inc. (NASDAQ:AKER) dropped by -$2.53 over the week and lost -$2.47 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.72. The stock recorded its established 52-week high on 09/16/19.
Since 03/16/20, the stock has traded to a low of $1.55 at 75.48%, 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 0.16. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Akers Biosciences, Inc.’s two-week RSI is 29.45. This suggests that the stock is overbought at the moment and that AKER shares’ price movement remains not stable. The stochastic readings are equally revealing at 6.13% meaning the AKER share price is currently in overbought territory.
The technical chart shows that the AKER stock will likely settle at between $2.86 and $3.01 per share. However, if the stock dips below $2.6, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.49.
Currently, the stock is trading in the red of MACD, with a reading of -1.43. 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 stocks P/S ratio currently stands below the group’s average of 82.3. Akers Biosciences, Inc. has its P/E ratio at 1.5, which means that the stock is currently trading at a discount relative to the 4.6 industry average.