The stock of BioNTech SE (NASDAQ:BNTX) is now priced at $61.25 and the shares are -2.75 points down or -4.3% lower compared to its previous closing price of $64. The stock had 2.193 million contracts set over the past session. BNTX shares’ daily volume is compared to its average trading volume at 3.216 million shares. However, it has a float of 220 million and although its performance was -13.55% over the week, it’s one to watch. Analysts have given the BNTX stock a yearly average price target of $76.99 per share. It means the stock’s upside potential is 25.7% with the BNTX share price recently placing at $60.34 to $63.18. However, some brokerage firms have priced the stock below the average, including one that has called $28.
The shorts are running away from the BioNTech SE stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BNTX shares have declined. Short interest in the stock represents just 1.75% of its float, but the volume has dropped by -1326792. The volume of shorted shares dropped to 3.854 million from 5.18 million shares over the last two weeks. The average intraday trading volume has been 2.755 million shares, which means that days to cover moved to roughly 1.398916.
Looking at current readings, BioNTech SE’s two-week RSI is 38.33. This suggests that the stock is neutral at the moment and that BNTX shares’ price movement remains stable. The stochastic readings are equally revealing at 7.17% meaning the BNTX share price is currently in overbought territory.
The technical chart shows that the BNTX stock will likely settle at between $62.84 and $64.43 per share. However, if the stock dips below $60, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $58.75.
Currently, the stock is trading in the red of MACD, with a reading of -3.61. 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 BNTX a rating of Buy in their resuming review released on August 03. BofA Securities analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $71 to $105 in a flash note released to investors on July 21. H.C. Wainwright seeing the stock struggling downgraded it from Buy to Neutral on June 30.
The average rating for the BNTX equity is 2.56 and is currently gathering a bullish momentum. Of 9 analysts tracking BioNTech SE polled by Reuters, 5 rated BNTX as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) 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 BNTX stock price is 8.4X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for BioNTech SE (NASDAQ:BNTX) will decrease by about -99.85%, which will see them reach $68.54 million. The company’s full-year revenues are, however, expected to increase by about 368.83%, up from $121 million to $566 million. BNTX’s expected adjusted earnings should surge almost 192.86% to end up at -$0.41 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -62.11% to record -$0.36/share.