The stock of Alexco Resource Corp. (NYSE:AXU) is now priced at $3.09 and the shares are 0.15 points up or 5.1% higher compared to its previous closing price of $2.94. The stock had 1.865 million contracts set over the past session. AXU shares’ daily volume is compared to its average trading volume at 2.361 million shares. However, it has a float of 131 million and although its performance was 16.6% over the week, it’s one to watch. Analysts have given the AXU stock a yearly average price target of $2.89 per share. It means the stock’s downside potential is -6.47% with the AXU share price recently placing at $2.95 to $3.15. However, some brokerage firms have priced the stock below the average, including one that has called $2.39.
The shorts are running away from the Alexco Resource Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AXU shares have declined. Short interest in the stock represents just 4.17% of its float, but the volume has dropped by 0.
In the last trading session, Alexco Resource Corp. (NYSE:AXU) raised by $0.44 over the week and gained $0.08 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.5. The stock recorded its established 52-week high on 08/05/20.
Since 03/16/20, the stock has traded to a low of $0.72 at 326.74%, 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, Alexco Resource Corp.’s two-week RSI is 61.82. This suggests that the stock is neutral at the moment and that AXU shares’ price movement remains stable. The stochastic readings are equally revealing at 72.37% meaning the AXU share price is currently in oversold territory.
The technical chart shows that the AXU stock will likely settle at between $3.18 and $3.26 per share. However, if the stock dips below $2.98, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.86.
Currently, the stock is trading in the green of MACD, with a reading of 0.17. 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 AXU a rating of Buy in their intiating review released on February 20. H.C. Wainwright analysts see the stock as a Buy with a target price of $1.7 in a flash note released to investors on July 07 resuming covering the stock. Global Hunter Securities seeing the stock struggling downgraded it from Accumulate to Neutral on August 08 placing it at $8.75 to $5.25.
The average rating for the AXU equity is 2 and is currently gathering a bullish momentum. Of 3 analysts tracking Alexco Resource Corp. polled by Reuters, 0 rated AXU as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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.
Elsewhere, the AXU stock price is 15X ahead of its 12-month Consensus earnings per share estimates.