The stock of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) is now priced at $0.89 and the shares are -0.07 points down or -7.66% lower compared to its previous closing price of $0.96. The stock had 5.087 million contracts set over the past session. TNXP shares’ daily volume is compared to its average trading volume at 25.367 million shares. However, it has a float of 130 million and although its performance was 5.97% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TNXP share price recently placing at $0.87 to $0.9599. However, some brokerage firms have priced the stock below the average, including one that has called $3.
The shorts are running away from the Tonix Pharmaceuticals Holding Corp. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TNXP shares have declined. Short interest in the stock represents just 1.42% of its float, but the volume has dropped by -1034851. The volume of shorted shares dropped to 1.849 million from 2.884 million shares over the last two weeks. The average intraday trading volume has been 12.683 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) raised by $0.0499 over the week and lost -$0.3548 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.38. The stock recorded its established 52-week high on 09/17/19.
Since 02/25/20, the stock has traded to a low of $0.39 at 126.86%, 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 1.68. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Tonix Pharmaceuticals Holding Corp.’s two-week RSI is 45.93. This suggests that the stock is neutral at the moment and that TNXP shares’ price movement remains stable. The stochastic readings are equally revealing at 41.23% meaning the TNXP share price is currently in neutral territory.
The technical chart shows that the TNXP stock will likely settle at between $0.9401 and $0.9949 per share. However, if the stock dips below $0.8502, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.8151.
Currently, the stock is trading in the green of MACD, with a reading of 0.0228. 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 ROTH Capital raised their recommendation for TNXP from Neutral to Buy in April 18 review while maintain their target price of $4. ROTH Capital analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $6 in a flash note released to investors on August 18. ROTH Capital seeing the stock struggling downgraded it from Buy to Neutral on September 07.
The average rating for the TNXP equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Tonix Pharmaceuticals Holding Corp. polled by Reuters, 0 rated TNXP 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.