The stock of Jamf Holding Corp. (NASDAQ:JAMF) is now priced at $38.6 and the shares are 1.05 points up or 2.8% higher compared to its previous closing price of $37.55. The stock had 1.101 million contracts set over the past session. However, it has a float of 116 million and although its performance was -1.4% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the JAMF share price recently placing at $37.73 to $38.9. However, some brokerage firms have priced the stock below the average, including one that has called $40.
The shorts are climbing into the Jamf Holding Corp. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the JAMF shares have risen. Short interest in the stock represents just 0.9% of its float, but the volume has raised by 70383. The volume of shorted shares rised to 1.041 million from 970976 shares over the last two weeks. The average intraday trading volume has been 447511 shares, which means that days to cover moved to roughly 2.327002.
Looking at current readings, Jamf Holding Corp.’s two-week RSI is 0. This suggests that the stock is overbought at the moment and that JAMF shares’ price movement remains not stable. The stochastic readings are equally revealing at 45.48% meaning the JAMF share price is currently in neutral territory.
The technical chart shows that the JAMF stock will likely settle at between $39.09 and $39.58 per share. However, if the stock dips below $37.92, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $37.24.
Currently, the stock is trading in the red of MACD, with a reading of -0.74. 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 JAMF a rating of Outperform in their intiating review released on August 17. RBC Capital Mkts analysts see the stock as a Outperform with a target price of $43 in a flash note released to investors on August 17 initiating covering the stock. Piper Sandler analysts see the stock as Overweight when the analysts initiated the share price coverage on August 17, placing it at $65.
The average rating for the JAMF equity is — and is currently gathering a bearish momentum. Of 8 analysts tracking Jamf Holding Corp. polled by Reuters, 1 rated JAMF as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) 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.