The stock of Trevena, Inc. (NASDAQ:TRVN) is now priced at $1.77 and the shares are -0.02 points down or -1.12% lower compared to its previous closing price of $1.79. The stock had 7.395 million contracts set over the past session. TRVN shares’ daily volume is compared to its average trading volume at 9.595 million shares. However, it has a float of 130 million and although its performance was 12.03% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the TRVN share price recently placing at $1.72 to $1.91. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are climbing into the Trevena, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TRVN shares have risen. Short interest in the stock represents just 8.56% of its float, but the volume has raised by 2542784. The volume of shorted shares rised to 11.166 million from 8.623 million shares over the last two weeks. The average intraday trading volume has been 29.574 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Trevena, Inc. (NASDAQ:TRVN) raised by $0.19 over the week and lost -$1.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.68. The stock recorded its established 52-week high on 08/10/20.
Since 04/06/20, the stock has traded to a low of $0.46 at 284.78%, 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 2.81. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Trevena, Inc.’s two-week RSI is 44.75. This suggests that the stock is neutral at the moment and that TRVN shares’ price movement remains stable. The stochastic readings are equally revealing at 19.66% meaning the TRVN share price is currently in overbought territory.
The technical chart shows that the TRVN stock will likely settle at between $1.88 and $1.99 per share. However, if the stock dips below $1.69, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.61.
Currently, the stock is trading in the green of MACD, with a reading of 0.0044. 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 TRVN a rating of Overweight in their intiating review released on August 28. H.C. Wainwright analysts see the stock as a Buy in a flash note released to investors on May 31 resuming covering the stock. H.C. Wainwright seeing the stock struggling downgraded it from Buy to Neutral on November 05.
The average rating for the TRVN equity is 2 and is currently gathering a bullish momentum. Of 3 analysts tracking Trevena, Inc. polled by Reuters, 0 rated TRVN as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) 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.