The stock of T2 Biosystems, Inc. (NASDAQ:TTOO) is now priced at $1.56 and the shares are 0.01 points up or 0.65% higher compared to its previous closing price of $1.55. TTOO shares have a float of 112 million and although its performance was 0.65% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TTOO share price recently placing at $1.5 to $1.59. However, some brokerage firms have priced the stock below the average, including one that has called $3.

The shorts are climbing into the T2 Biosystems, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TTOO shares have risen. Short interest in the stock represents just 9.9% of its float, but the volume has raised by 468870. The volume of shorted shares rised to 11.079 million from 10.611 million shares over the last two weeks. The average intraday trading volume has been 13.354 million shares, which means that days to cover moved to roughly 1.

In the last trading session, T2 Biosystems, Inc. (NASDAQ:TTOO) raised by $0.01 over the week and lost -$0.06 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.21. The stock recorded its established 52-week high on 09/12/19.

Since 03/17/20, the stock has traded to a low of $0.235 at 563.83%, 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 1.09. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, T2 Biosystems, Inc.’s two-week RSI is 50.11. This suggests that the stock is neutral at the moment and that TTOO shares’ price movement remains stable. The stochastic readings are equally revealing at 21.09% meaning the TTOO share price is currently in overbought territory.

The technical chart shows that the TTOO stock will likely settle at between $1.6 and $1.64 per share. However, if the stock dips below $1.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.46.

Currently, the stock is trading in the green of MACD, with a reading of 0.0156. 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 Janney cut their recommendation for TTOO from Buy to Neutral in November 26 review. Alliance Global Partners analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on August 01. Janney seeing the stock struggling downgraded it from Buy to Neutral on July 31.

The average rating for the TTOO equity is 1.5 and is currently gathering a bullish momentum. Of 4 analysts tracking T2 Biosystems, Inc. polled by Reuters, 0 rated TTOO 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.

The stocks P/S ratio currently stands below the group’s average of 65. T2 Biosystems, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 5.8 industry average.