The stock of Auryn Resources Inc. (NYSE:AUG) is now priced at $1.95 and the shares are -0.13 points down or -6.25% lower compared to its previous closing price of $2.08. The stock had 1.005 million contracts set over the past session. AUG shares’ daily volume is compared to its average trading volume at 657971 shares. However, it has a float of 82.98 million and although its performance was -10.14% over the week, it’s one to watch. Analysts have given the AUG stock a yearly average price target of $3.4 per share. It means the stock’s upside potential is 74.36% with the AUG share price recently placing at $1.93 to $2.13. However, some brokerage firms have priced the stock below the average, including one that has called $2.6.
The shorts are running away from the Auryn Resources Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the AUG shares have declined. Short interest in the stock represents just 1.05% of its float, but the volume has dropped by 0.
In the last trading session, Auryn Resources Inc. (NYSE:AUG) dropped by -$0.22 over the week and lost -$0.55 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.66. The stock recorded its established 52-week high on 08/04/20.
Since 03/17/20, the stock has traded to a low of $0.71 at 174.65%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Auryn Resources Inc.’s two-week RSI is 33.68. This suggests that the stock is neutral at the moment and that AUG shares’ price movement remains stable. The stochastic readings are equally revealing at 9.63% meaning the AUG share price is currently in overbought territory.
The technical chart shows that the AUG stock will likely settle at between $2.0767 and $2.2033 per share. However, if the stock dips below $1.8767, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.8033.
Currently, the stock is trading in the red of MACD, with a reading of -0.1. 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 AUG equity is 2 and is currently gathering a bullish momentum. Of 3 analysts tracking Auryn Resources Inc. polled by Reuters, 0 rated AUG 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.