The stock of Geron Corporation (NASDAQ:GERN) is now priced at $2.05 and the shares are 0.12 points up or 6.22% higher compared to its previous closing price of $1.93. The stock had 3.607 million contracts set over the past session. GERN shares’ daily volume is compared to its average trading volume at 3.297 million shares. However, it has a float of 260 million and although its performance was 23.49% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the GERN share price recently placing at $1.94 to $2.07. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Geron Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the GERN shares have declined. Short interest in the stock represents just 12.17% of its float, but the volume has dropped by -638139. The volume of shorted shares dropped to 31.686 million from 32.324 million shares over the last two weeks. The average intraday trading volume has been 2.082 million shares, which means that days to cover moved to roughly 15.22045.
In the last trading session, Geron Corporation (NASDAQ:GERN) raised by $0.39 over the week and gained $0.28 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.4. The stock recorded its established 52-week high on 05/18/20.
Since 03/16/20, the stock has traded to a low of $0.75 at 173.33%, 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 1.61. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Geron Corporation’s two-week RSI is 64.85. This suggests that the stock is neutral at the moment and that GERN shares’ price movement remains stable. The stochastic readings are equally revealing at 84.51% meaning the GERN share price is currently in oversold territory.
The technical chart shows that the GERN stock will likely settle at between $2.1 and $2.15 per share. However, if the stock dips below $1.97, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.89.
Currently, the stock is trading in the green of MACD, with a reading of 0.14. 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 GERN a rating of Buy in their intiating review released on August 03. B. Riley FBR analysts see the stock as a Buy with a target price of $4 in a flash note released to investors on November 19 resuming covering the stock. H.C. Wainwright analysts see the stock as Buy when the analysts initiated the share price coverage on September 03, placing it at $4.
The average rating for the GERN equity is 1.8 and is currently gathering a bullish momentum. Of 6 analysts tracking Geron Corporation polled by Reuters, 0 rated GERN as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) 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 Geron Corporation (NASDAQ:GERN) will increase by about 39.53%, which will see them reach $60 million. The company’s full-year revenues are, however, expected to diminish by about -47.83%, down from $460 million to $240 million. GERN’s expected adjusted earnings should drop almost -25% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -27.78% to record -$0.26/share.