The stock of Agile Therapeutics, Inc. (NASDAQ:AGRX) is now priced at $3.2 and the shares are 0.15 points up or 4.92% higher compared to its previous closing price of $3.05. The stock had 1.444 million contracts set over the past session. AGRX shares’ daily volume is compared to its average trading volume at 1.61 million shares. However, it has a float of 67.06 million and although its performance was 9.22% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AGRX share price recently placing at $2.995 to $3.2884. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are climbing into the Agile Therapeutics, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AGRX shares have risen. Short interest in the stock represents just 7.4% of its float, but the volume has raised by 592649. The volume of shorted shares rised to 4.962 million from 4.37 million shares over the last two weeks. The average intraday trading volume has been 1.004 million shares, which means that days to cover moved to roughly 4.94258.
In the last trading session, Agile Therapeutics, Inc. (NASDAQ:AGRX) raised by $0.27 over the week and gained $0.59 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.77. The stock recorded its established 52-week high on 02/12/20.
Since 10/29/19, the stock has traded to a low of $0.35 at 814.29%, 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 1.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Agile Therapeutics, Inc.’s two-week RSI is 64.9. This suggests that the stock is neutral at the moment and that AGRX shares’ price movement remains stable. The stochastic readings are equally revealing at 81.72% meaning the AGRX share price is currently in oversold territory.
The technical chart shows that the AGRX stock will likely settle at between $3.33 and $3.45 per share. However, if the stock dips below $3.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.87.
Currently, the stock is trading in the green of MACD, with a reading of 0.05. 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 AGRX a rating of Buy in their resuming review released on April 12. Maxim Group analysts see the stock as a Buy with a target price of $3 in a flash note released to investors on November 29 initiating covering the stock. William Blair seeing the stock struggling downgraded it from Outperform to Mkt Perform on December 26.
The average rating for the AGRX equity is 1.6 and is currently gathering a bullish momentum. Of 5 analysts tracking Agile Therapeutics, Inc. polled by Reuters, 0 rated AGRX as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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.