The stock of Aeterna Zentaris Inc. (NASDAQ:AEZS) is now priced at $0.47 and the shares are 0 points down or 0.65% lower compared to its previous closing price of $0.47. The stock had 2.148 million contracts set over the past session. AEZS shares’ daily volume is compared to its average trading volume at 4.546 million shares. However, it has a float of 21.85 million and although its performance was 0.86% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AEZS share price recently placing at $0.452 to $0.468. However, some brokerage firms have priced the stock below the average, including one that has called $4.5.

The shorts are climbing into the Aeterna Zentaris Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AEZS shares have risen. Short interest in the stock represents just 7.79% of its float, but the volume has raised by 781981. The volume of shorted shares rised to 1.702 million from 919630 shares over the last two weeks. The average intraday trading volume has been 7.144 million shares, which means that days to cover moved to roughly 1.

In the last trading session, Aeterna Zentaris Inc. (NASDAQ:AEZS) raised by $0.004 over the week and gained $0.039 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.4199. The stock recorded its established 52-week high on 08/30/19.

Since 07/02/20, the stock has traded to a low of $0.3697 at 26.59%, 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 1.5. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Aeterna Zentaris Inc.’s two-week RSI is 48.71. This suggests that the stock is neutral at the moment and that AEZS shares’ price movement remains stable. The stochastic readings are equally revealing at 16.01% meaning the AEZS share price is currently in overbought territory.

The technical chart shows that the AEZS stock will likely settle at between $0.4733 and $0.4787 per share. However, if the stock dips below $0.4573, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4467.

Currently, the stock is trading in the red of MACD, with a reading of -0.0191. 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 though raised target price of AEZS stock from $2 to $4 but maintained Buy recommendation in their July 19 review. H.C. Wainwright analysts see the stock as a Buy, but they also dropped the share’s target price from $7.50 to $3 in a flash note released to investors on May 10. Maxim Group analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on May 01, placing it at $2 from $11.