The stock of Celsion Corporation (NASDAQ:CLSN) is now priced at $0.92 and the shares are -0.1 points down or -9.56% lower compared to its previous closing price of $1.02. The stock had 1.723 million contracts set over the past session. CLSN shares’ daily volume is compared to its average trading volume at 3.479 million shares. However, it has a float of 32.75 million and although its performance was -10.44% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CLSN share price recently placing at $0.9203 to $1.02. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the Celsion Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CLSN shares have declined. Short interest in the stock represents just 4.22% of its float, but the volume has dropped by -34859. The volume of shorted shares dropped to 1.381 million from 1.416 million shares over the last two weeks. The average intraday trading volume has been 1.837 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Celsion Corporation (NASDAQ:CLSN) dropped by -$0.1075 over the week and lost -$0.1575 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.5. The stock recorded its established 52-week high on 06/17/20.
Since 03/18/20, the stock has traded to a low of $0.6865 at 34.38%, 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 2.09. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Celsion Corporation’s two-week RSI is 16.65. This suggests that the stock is overbought at the moment and that CLSN shares’ price movement remains not stable. The stochastic readings are equally revealing at 5.78% meaning the CLSN share price is currently in overbought territory.
The technical chart shows that the CLSN stock will likely settle at between $0.9882 and $1.054 per share. However, if the stock dips below $0.8885, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.8546.
Currently, the stock is trading in the red of MACD, with a reading of -0.0478. 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 Oppenheimer cut their recommendation for CLSN from Outperform to Perform in July 16 review. Dawson James analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on July 14. Maxim Group seeing the improvements upgraded the stock from Hold to Buy on October 04, placing it at $7.
The average rating for the CLSN equity is 2.2 and is currently gathering a bullish momentum. Of 4 analysts tracking Celsion Corporation polled by Reuters, 1 rated CLSN 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Celsion Corporation (NASDAQ:CLSN) will decrease by about -36%, which will see them reach $80 million. The company’s full-year revenues are, however, expected to diminish by about -24%, down from $500 million to $380 million. CLSN’s expected adjusted earnings should drop almost -48% to end up at -$0.13 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -18.18% to record -$0.63/share.