The stock of Personalis, Inc. (NASDAQ:PSNL) is now priced at $22.82 and the shares are 0.75 points up or 3.4% higher compared to its previous closing price of $22.07. The stock had 1.034 million contracts set over the past session. PSNL shares’ daily volume is compared to its average trading volume at 0.433 million shares. However, it has a float of 18.91 million and although its performance was 3.26% over the week, it’s one to watch. Analysts have given the PSNL stock a yearly average price target of $24.75 per share. It means the stock’s upside potential is 8.46% with the PSNL share price recently placing at $22.06 to $23.51. However, some brokerage firms have priced the stock below the average, including one that has called $23.
The shorts are running away from the Personalis, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the PSNL shares have declined. Short interest in the stock represents just 4.96% of its float, but the volume has dropped by -39214. The volume of shorted shares dropped to 937850 from 977064 shares over the last two weeks. The average intraday trading volume has been 686880 shares, which means that days to cover moved to roughly 1.365377.
In the last trading session, Personalis, Inc. (NASDAQ:PSNL) raised by $0.72 over the week and gained $4.75 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $24.87. The stock recorded its established 52-week high on 08/19/20.
Since 03/17/20, the stock has traded to a low of $4.27 at 434.43%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Personalis, Inc.’s two-week RSI is 62.15. This suggests that the stock is neutral at the moment and that PSNL shares’ price movement remains stable. The stochastic readings are equally revealing at 58.47% meaning the PSNL share price is currently in neutral territory.
The technical chart shows that the PSNL stock will likely settle at between $23.53 and $24.25 per share. However, if the stock dips below $22.08, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $21.35.
Currently, the stock is trading in the red of MACD, with a reading of -0.38. 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 PSNL a rating of Buy in their intiating review released on August 27. Needham analysts see the stock as a Buy with a target price of $25 in a flash note released to investors on August 18 initiating covering the stock. BofA/Merrill seeing the improvements upgraded the stock from Neutral to Buy on September 26, placing it at $22.
The average rating for the PSNL equity is 1.5 and is currently gathering a bullish momentum. Of 5 analysts tracking Personalis, Inc. polled by Reuters, 0 rated PSNL as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) 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 at 55.7 below the group’s average of 65. Personalis, Inc. has its P/E ratio at 7.8, which means that the stock is currently trading at a premium relative to the 5.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Personalis, Inc. (NASDAQ:PSNL) will decrease by about -99.9%, which will see them reach $19.23 million. The company’s full-year revenues are, however, expected to increase by about 20.36%, up from $65.21 million to $78.49 million. PSNL’s expected adjusted earnings should surge almost 36.36% to end up at -$0.3 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -15.11% to record -$1.18/share.