The stock of Zosano Pharma Corporation (NASDAQ:ZSAN) is now priced at $1.63 and the shares are 0.02 points up or 1.24% higher compared to its previous closing price of $1.61. The stock had 3.928 million contracts set over the past session. ZSAN shares’ daily volume is compared to its average trading volume at 3.907 million shares. However, it has a float of 0 million and although its performance was -1.21% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ZSAN share price recently placing at $1.58 to $1.68. However, some brokerage firms have priced the stock below the average, including one that has called $2.
The shorts are running away from the Zosano Pharma Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ZSAN shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by -143065. The volume of shorted shares dropped to 5.846 million from 5.99 million shares over the last two weeks. The average intraday trading volume has been 8.412 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Zosano Pharma Corporation (NASDAQ:ZSAN) dropped by -$0.02 over the week and gained $0.58 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.45. The stock recorded its established 52-week high on 10/25/19.
Since 03/16/20, the stock has traded to a low of $0.405 at 302.47%, 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 3.16. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Zosano Pharma Corporation’s two-week RSI is 61.37. This suggests that the stock is neutral at the moment and that ZSAN shares’ price movement remains stable. The stochastic readings are equally revealing at 50.98% meaning the ZSAN share price is currently in neutral territory.
The technical chart shows that the ZSAN stock will likely settle at between $1.68 and $1.73 per share. However, if the stock dips below $1.58, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.53.
Currently, the stock is trading in the red of MACD, with a reading of -0.0656. 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 ZSAN a rating of Buy in their intiating review released on April 17. Piper Jaffray analysts see the stock as a Overweight with a target price of $4 in a flash note released to investors on March 24 initiating covering the stock. Ladenburg Thalmann seeing the stock struggling downgraded it from Buy to Neutral on August 11.
The average rating for the ZSAN equity is 1.67 and is currently gathering a bullish momentum. Of 3 analysts tracking Zosano Pharma Corporation polled by Reuters, 0 rated ZSAN 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.