The stock of BioDelivery Sciences International, Inc. (NASDAQ:BDSI) is now priced at $3.81 and the shares are -0.14 points down or -3.54% lower compared to its previous closing price of $3.95. The stock had 2.807 million contracts set over the past session. BDSI shares’ daily volume is compared to its average trading volume at 1.12 million shares. However, it has a float of 98.38 million and although its performance was -19.28% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the BDSI share price recently placing at $3.66 to $3.99.

The shorts are running away from the BioDelivery Sciences International, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BDSI shares have declined. Short interest in the stock represents just 4.11% of its float, but the volume has dropped by -353701. The volume of shorted shares dropped to 4.047 million from 4.4 million shares over the last two weeks. The average intraday trading volume has been 943521 shares, which means that days to cover moved to roughly 4.288763.

In the last trading session, BioDelivery Sciences International, Inc. (NASDAQ:BDSI) dropped by -$0.91 over the week and lost -$0.38 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.21. The stock recorded its established 52-week high on 12/26/19.

Since 03/23/20, the stock has traded to a low of $2.85 at 33.68%, 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 0.59. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, BioDelivery Sciences International, Inc.’s two-week RSI is 33.22. This suggests that the stock is neutral at the moment and that BDSI shares’ price movement remains stable. The stochastic readings are equally revealing at 4.87% meaning the BDSI share price is currently in overbought territory.

The technical chart shows that the BDSI stock will likely settle at between $3.98 and $4.15 per share. However, if the stock dips below $3.65, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.49.

Currently, the stock is trading in the red of MACD, with a reading of -0.56. 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 Maxim Group assigned BDSI a rating of Outperform in their intiating review released on April 22. Piper Sandler analysts see the stock as a Overweight with a target price of $9 in a flash note released to investors on January 09 initiating covering the stock. SunTrust analysts see the stock as Buy when the analysts initiated the share price coverage on March 20, placing it at $7.

The average rating for the BDSI equity is 1.75 and is currently gathering a bullish momentum. Of 8 analysts tracking BioDelivery Sciences International, Inc. polled by Reuters, 0 rated BDSI as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) 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.

Elsewhere, the BDSI stock price is 8.92X ahead of its 12-month Consensus earnings per share estimates.