The stock of Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI) is now priced at $0.41 and the shares are -0.03 points down or -7.84% lower compared to its previous closing price of $0.44. The stock had 3.357 million contracts set over the past session. HJLI shares’ daily volume is compared to its average trading volume at 11.369 million shares. However, it has a float of 18.19 million and although its performance was 3.8% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the HJLI share price recently placing at $0.4 to $0.435. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Hancock Jaffe Laboratories, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the HJLI shares have declined. Short interest in the stock represents just 2.82% of its float, but the volume has dropped by -221231. The volume of shorted shares dropped to 513269 from 734500 shares over the last two weeks. The average intraday trading volume has been 4.505 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI) raised by $0.015 over the week and gained $0.0865 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.06. The stock recorded its established 52-week high on 08/30/19.
Since 03/24/20, the stock has traded to a low of $0.2111 at 94.22%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Hancock Jaffe Laboratories, Inc.’s two-week RSI is 53.66. This suggests that the stock is neutral at the moment and that HJLI shares’ price movement remains stable. The stochastic readings are equally revealing at 30.41% meaning the HJLI share price is currently in neutral territory.
The technical chart shows that the HJLI stock will likely settle at between $0.43 and $0.45 per share. However, if the stock dips below $0.395, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.38.
Currently, the stock is trading in the green of MACD, with a reading of 0.0361. 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 HJLI a rating of Buy in their intiating review released on August 06.
The stocks P/S ratio currently stands below the group’s average of 46. Hancock Jaffe Laboratories, Inc. has its P/E ratio at 42.5, which means that the stock is currently trading at a premium relative to the 4.8 industry average.