The stock of Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) is now priced at $42.41 and the shares are -5.83 points down or -12.09% lower compared to its previous closing price of $48.24. The stock had 1.228 million contracts set over the past session. ARCT shares’ daily volume is compared to its average trading volume at 0.807 million shares. However, it has a float of 18.78 million and although its performance was -21.33% over the week, it’s one to watch. Analysts have given the ARCT stock a yearly average price target of $67.5 per share. It means the stock’s upside potential is 59.16% with the ARCT share price recently placing at $41.6506 to $48.24. However, some brokerage firms have priced the stock below the average, including one that has called $31.
The shorts are running away from the Arcturus Therapeutics Holdings Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ARCT shares have declined. Short interest in the stock represents just 8.39% of its float, but the volume has dropped by -78401. The volume of shorted shares dropped to 1.576 million from 1.655 million shares over the last two weeks. The average intraday trading volume has been 610216 shares, which means that days to cover moved to roughly 2.58329.
In the last trading session, Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) dropped by -$11.5 over the week and lost -$12.21 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $66.24. The stock recorded its established 52-week high on 08/21/20.
Since 03/13/20, the stock has traded to a low of $8.51 at 398.35%, 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 3.2. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Arcturus Therapeutics Holdings Inc.’s two-week RSI is 37.41. This suggests that the stock is neutral at the moment and that ARCT shares’ price movement remains stable. The stochastic readings are equally revealing at 13.58% meaning the ARCT share price is currently in overbought territory.
The technical chart shows that the ARCT stock will likely settle at between $46.55 and $50.69 per share. However, if the stock dips below $39.96, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $37.51.
Currently, the stock is trading in the red of MACD, with a reading of -6.16. 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 ARCT a rating of Overweight in their intiating review released on August 26. ROTH Capital analysts see the stock as a Buy with a target price of $77 in a flash note released to investors on July 30 resuming covering the stock. Raymond James analysts see the stock as Outperform when the analysts initiated the share price coverage on July 16, placing it at $72.
The average rating for the ARCT equity is 1.78 and is currently gathering a bullish momentum. Of 12 analysts tracking Arcturus Therapeutics Holdings Inc. polled by Reuters, 1 rated ARCT as a hold. The remaining 11 analysts were split evenly. However, the split wasn’t equal as a majority (11) 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.
Elsewhere, the ARCT stock price is 99.09X ahead of its 12-month Consensus earnings per share estimates.