The stock of Cerus Corporation (NASDAQ:CERS) is now priced at $6.37 and the shares are 0.11 points up or 1.76% higher compared to its previous closing price of $6.26. The stock had 1.473 million contracts set over the past session. CERS shares’ daily volume is compared to its average trading volume at 1.903 million shares. However, it has a float of 163 million and although its performance was -6.73% over the week, it’s one to watch. Analysts have given the CERS stock a yearly average price target of $9.13 per share. It means the stock’s upside potential is 43.33% with the CERS share price recently placing at $6.189 to $6.575. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are climbing into the Cerus Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CERS shares have risen. Short interest in the stock represents just 6.09% of its float, but the volume has raised by 27042. The volume of shorted shares rised to 9.916 million from 9.889 million shares over the last two weeks. The average intraday trading volume has been 1.273 million shares, which means that days to cover moved to roughly 7.791656.
In the last trading session, Cerus Corporation (NASDAQ:CERS) dropped by -$0.46 over the week and lost -$1.04 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.94. The stock recorded its established 52-week high on 08/24/20.
Since 03/18/20, the stock has traded to a low of $2.71 at 135.06%, 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 1.16. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Cerus Corporation’s two-week RSI is 39.31. This suggests that the stock is neutral at the moment and that CERS shares’ price movement remains stable. The stochastic readings are equally revealing at 12.8% meaning the CERS share price is currently in overbought territory.
The technical chart shows that the CERS stock will likely settle at between $6.57 and $6.76 per share. However, if the stock dips below $6.18, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.99.
Currently, the stock is trading in the red of MACD, with a reading of -0.36. 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 CERS a rating of Overweight in their resuming review released on June 16. BTIG Research analysts see the stock as a Buy with a target price of $7 in a flash note released to investors on February 26 initiating covering the stock. BTIG Research seeing the improvements upgraded the stock from Neutral to Buy on November 13, placing it at $7.
The average rating for the CERS equity is 1.5 and is currently gathering a bullish momentum. Of 4 analysts tracking Cerus Corporation polled by Reuters, 0 rated CERS 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Cerus Corporation (NASDAQ:CERS) will decrease by about -99.87%, which will see them reach $28.55 million. The company’s full-year revenues are, however, expected to increase by about 20.42%, up from $93.77 million to $113 million. CERS’s expected adjusted earnings should drop almost -23.08% to end up at -$0.1 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -21.57% to record -$0.4/share.