The stock of OPKO Health, Inc. (NASDAQ:OPK) is now priced at $3.34 and the shares are 0.03 points up or 0.91% higher compared to its previous closing price of $3.31. The stock had 17.709 million contracts set over the past session. OPK shares’ daily volume is compared to its average trading volume at 18.212 million shares. However, it has a float of 403 million and although its performance was -31.28% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the OPK share price recently placing at $3.15 to $3.385. However, some brokerage firms have priced the stock below the average, including one that has called $6.5.
The shorts are running away from the OPKO Health, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the OPK shares have declined. Short interest in the stock represents just 33.58% of its float, but the volume has dropped by -5045757. The volume of shorted shares dropped to 135.36 million from 140.406 million shares over the last two weeks. The average intraday trading volume has been 12.399 million shares, which means that days to cover moved to roughly 10.917422.
In the last trading session, OPKO Health, Inc. (NASDAQ:OPK) dropped by -$1.52 over the week and lost -$1.81 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.47. The stock recorded its established 52-week high on 07/21/20.
Since 04/03/20, the stock has traded to a low of $1.12 at 198.99%, 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 2.1. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, OPKO Health, Inc.’s two-week RSI is 30.48. This suggests that the stock is neutral at the moment and that OPK shares’ price movement remains stable. The stochastic readings are equally revealing at 8.89% meaning the OPK share price is currently in overbought territory.
The technical chart shows that the OPK stock will likely settle at between $3.43 and $3.53 per share. However, if the stock dips below $3.2, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.06.
Currently, the stock is trading in the red of MACD, with a reading of -0.85. 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 OPK a rating of Overweight in their intiating review released on November 25. JP Morgan analysts downgraded their recommendation of the stock from Neutral to Underweight in a flash note released to investors on March 02. JP Morgan seeing the stock struggling downgraded it from Overweight to Neutral on September 14.
The average rating for the OPK equity is 1.8 and is currently gathering a bullish momentum. Of 5 analysts tracking OPKO Health, Inc. polled by Reuters, 1 rated OPK as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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 OPK stock price is 15.61X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 64.6. OPKO Health, Inc. has its P/E ratio at 1.4, which means that the stock is currently trading at a discount relative to the 5.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for OPKO Health, Inc. (NASDAQ:OPK) will decrease by about -99.88%, which will see them reach $374 million. The company’s full-year revenues are, however, expected to increase by about 41.92%, up from $902 million to $1280 million. OPK’s expected adjusted earnings should drop almost -136.36% to end up at $0.04 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -113.51% to record $0.05/share.