The stock of Tyme Technologies, Inc. (NASDAQ:TYME) is now priced at $1.09 and the shares are -0.05 points down or -4.39% lower compared to its previous closing price of $1.14. The stock had 1.549 million contracts set over the past session. TYME shares’ daily volume is compared to its average trading volume at 1.235 million shares. However, it has a float of 61.1 million and although its performance was -8.4% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TYME share price recently placing at $1.06 to $1.14. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the Tyme Technologies, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TYME shares have declined. Short interest in the stock represents just 6.82% of its float, but the volume has dropped by -205772. The volume of shorted shares dropped to 4.165 million from 4.371 million shares over the last two weeks. The average intraday trading volume has been 745033 shares, which means that days to cover moved to roughly 5.59003.
In the last trading session, Tyme Technologies, Inc. (NASDAQ:TYME) dropped by -$0.1 over the week and lost -$0.1 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.04. The stock recorded its established 52-week high on 01/17/20.
Since 03/18/20, the stock has traded to a low of $0.8601 at 26.73%, 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 0.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Tyme Technologies, Inc.’s two-week RSI is 35.65. This suggests that the stock is neutral at the moment and that TYME shares’ price movement remains stable. The stochastic readings are equally revealing at 9.19% meaning the TYME share price is currently in overbought territory.
The technical chart shows that the TYME stock will likely settle at between $1.1333 and $1.1767 per share. However, if the stock dips below $1.0533, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.0167.
Currently, the stock is trading in the red of MACD, with a reading of -0.0544. 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 TYME equity is 1.5 and is currently gathering a bullish momentum. Of 2 analysts tracking Tyme Technologies, Inc. polled by Reuters, 0 rated TYME 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.