The stock of Aytu BioScience, Inc. (NASDAQ:AYTU) is now priced at $1.1 and the shares are 0.04 points up or 3.77% higher compared to its previous closing price of $1.06. The stock had 4.058 million contracts set over the past session. AYTU shares’ daily volume is compared to its average trading volume at 6.771 million shares. However, it has a float of 116 million and although its performance was -9.09% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the AYTU share price recently placing at $1.01 to $1.13. However, some brokerage firms have priced the stock below the average, including one that has called $2.5.
The shorts are running away from the Aytu BioScience, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AYTU shares have declined. Short interest in the stock represents just 5.22% of its float, but the volume has dropped by -1481427. The volume of shorted shares dropped to 6.063 million from 7.545 million shares over the last two weeks. The average intraday trading volume has been 3.272 million shares, which means that days to cover moved to roughly 1.853162.
In the last trading session, Aytu BioScience, Inc. (NASDAQ:AYTU) dropped by -$0.11 over the week and lost -$0.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $2.99. The stock recorded its established 52-week high on 03/10/20.
Since 03/09/20, the stock has traded to a low of $0.3352 at 228.16%, 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 0.33. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Aytu BioScience, Inc.’s two-week RSI is 31.43. This suggests that the stock is neutral at the moment and that AYTU shares’ price movement remains stable. The stochastic readings are equally revealing at 11.68% meaning the AYTU share price is currently in overbought territory.
The technical chart shows that the AYTU stock will likely settle at between $1.15 and $1.2 per share. However, if the stock dips below $1.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.96.
Currently, the stock is trading in the red of MACD, with a reading of -0.0833. 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 AYTU a rating of Buy in their intiating review released on May 29.
The average rating for the AYTU equity is 1.5 and is currently gathering a bullish momentum. Of 2 analysts tracking Aytu BioScience, Inc. polled by Reuters, 0 rated AYTU as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Aytu BioScience, Inc. (NASDAQ:AYTU) will decrease by about -99.86%, which will see them reach $11.24 million. The company’s full-year revenues are, however, expected to increase by about 228.14%, up from $7.32 million to $24.02 million. AYTU’s expected adjusted earnings should drop almost -90.63% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -90.09% to record -$0.22/share.