The stock of NantKwest, Inc. (NASDAQ:NK) is now priced at $7.3 and the shares are -0.01 points down or -0.14% lower compared to its previous closing price of $7.31. The stock had 1.022 million contracts set over the past session. NK shares’ daily volume is compared to its average trading volume at 2.255 million shares. However, it has a float of 36.02 million and although its performance was -6.05% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the NK share price recently placing at $7.15 to $7.49. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the NantKwest, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the NK shares have declined. Short interest in the stock represents just 12.91% of its float, but the volume has dropped by -63102. The volume of shorted shares dropped to 4.65 million from 4.713 million shares over the last two weeks. The average intraday trading volume has been 1.603 million shares, which means that days to cover moved to roughly 2.900632.
In the last trading session, NantKwest, Inc. (NASDAQ:NK) dropped by -$0.47 over the week and lost -$4.74 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $15.7. The stock recorded its established 52-week high on 07/20/20.
Since 09/27/19, the stock has traded to a low of $1.04 at 601.92%, 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 2.56. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, NantKwest, Inc.’s two-week RSI is 29.1. This suggests that the stock is overbought at the moment and that NK shares’ price movement remains not stable. The stochastic readings are equally revealing at 10.18% meaning the NK share price is currently in overbought territory.
The technical chart shows that the NK stock will likely settle at between $7.48 and $7.65 per share. However, if the stock dips below $7.14, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.97.
Currently, the stock is trading in the red of MACD, with a reading of -0.53. 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 NK a rating of Overweight in their intiating review released on July 08. Citigroup analysts downgraded their recommendation of the stock from Neutral to Sell in a flash note released to investors on May 31. Citigroup seeing the improvements upgraded the stock from Sell to Neutral on November 30.
The average rating for the NK equity is 2.5 and is currently gathering a bullish momentum. Of 2 analysts tracking NantKwest, Inc. polled by Reuters, 1 rated NK as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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 NantKwest, Inc. (NASDAQ:NK) will increase by about 900%, which will see them reach $10 million. The company’s full-year revenues are, however, expected to diminish by about -30.23%, down from $43 million to $30 million. NK’s expected adjusted earnings should surge almost 12.5% to end up at -$0.18 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 7.14% to record -$0.75/share.