The stock of Schrodinger, Inc. (NASDAQ:SDGR) is now priced at $61.69 and the shares are -1.74 points down or -2.74% lower compared to its previous closing price of $63.43. The stock had 1.759 million contracts set over the past session. SDGR shares’ daily volume is compared to its average trading volume at 1.186 million shares. However, it has a float of 23.76 million and although its performance was -10.18% over the week, it’s one to watch. Analysts have given the SDGR stock a yearly average price target of $86.75 per share. It means the stock’s upside potential is 40.62% with the SDGR share price recently placing at $60.505 to $63.75. However, some brokerage firms have priced the stock below the average, including one that has called $70.

The shorts are climbing into the Schrodinger, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SDGR shares have risen. Short interest in the stock represents just 19.48% of its float, but the volume has raised by 341961. The volume of shorted shares rised to 4.627 million from 4.285 million shares over the last two weeks. The average intraday trading volume has been 2.026 million shares, which means that days to cover moved to roughly 2.283549.

Looking at current readings, Schrodinger, Inc.’s two-week RSI is 33.88. This suggests that the stock is neutral at the moment and that SDGR shares’ price movement remains stable. The stochastic readings are equally revealing at 12.85% meaning the SDGR share price is currently in overbought territory.

The technical chart shows that the SDGR stock will likely settle at between $63.46 and $65.23 per share. However, if the stock dips below $60.21, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $58.74.

Currently, the stock is trading in the red of MACD, with a reading of -2.27. 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 SDGR a rating of Equal-Weight in their intiating review released on March 02. Jefferies analysts see the stock as a Hold with a target price of $42 in a flash note released to investors on March 02 initiating covering the stock. BMO Capital Markets analysts see the stock as Outperform when the analysts initiated the share price coverage on March 02, placing it at $65.

The average rating for the SDGR equity is 2.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Schrodinger, Inc. polled by Reuters, 3 rated SDGR as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.