The stock of Viveve Medical, Inc. (NASDAQ:VIVE) is now priced at $0.61 and the shares are -0.04 points down or -6.38% lower compared to its previous closing price of $0.65. The stock had 2.087 million contracts set over the past session. VIVE shares’ daily volume is compared to its average trading volume at 5.575 million shares. However, it has a float of 15.73 million and although its performance was 9.25% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the VIVE share price recently placing at $0.601 to $0.6338. However, some brokerage firms have priced the stock below the average, including one that has called $1.85.
The shorts are running away from the Viveve Medical, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the VIVE shares have declined. Short interest in the stock represents just 3.47% of its float, but the volume has dropped by -48088. The volume of shorted shares dropped to 545613 from 593701 shares over the last two weeks. The average intraday trading volume has been 771460 shares, which means that days to cover moved to roughly 1.
In the last trading session, Viveve Medical, Inc. (NASDAQ:VIVE) raised by $0.0515 over the week and gained $0.0428 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11.9. The stock recorded its established 52-week high on 09/03/19.
Since 08/24/20, the stock has traded to a low of $0.5252 at 15.86%, 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 0.51. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Viveve Medical, Inc.’s two-week RSI is 50.85. This suggests that the stock is neutral at the moment and that VIVE shares’ price movement remains stable. The stochastic readings are equally revealing at 15.02% meaning the VIVE share price is currently in overbought territory.
The technical chart shows that the VIVE stock will likely settle at between $0.6279 and $0.6472 per share. However, if the stock dips below $0.5951, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.5816.
Currently, the stock is trading in the green of MACD, with a reading of 0.0503. 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 Stifel cut their recommendation for VIVE from Buy to Hold in July 23 review while maintai their target price of $3 to $1. Raymond James analysts downgraded their recommendation of the stock from Outperform to Mkt Perform in a flash note released to investors on July 23. Maxim Group seeing the stock struggling downgraded it from Buy to Hold on July 23.
The average rating for the VIVE equity is 1 and is currently gathering a bullish momentum. Of 1 analysts tracking Viveve Medical, Inc. polled by Reuters, 0 rated VIVE 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.
The stocks P/S ratio currently stands at 0.1 below the group’s average of 46.1. Viveve Medical, Inc. has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 4.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Viveve Medical, Inc. (NASDAQ:VIVE) will decrease by about -99.86%, which will see them reach $1 million. The company’s full-year revenues are, however, expected to diminish by about -26.64%, down from $6.57 million to $4.82 million. VIVE’s expected adjusted earnings should drop almost -96.08% to end up at -$0.53 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -92.99% to record -$2.41/share.