The stock of Athenex, Inc. (NASDAQ:ATNX) is now priced at $12.53 and the shares are 1.04 points up or 9.05% higher compared to its previous closing price of $11.49. The stock had 2.573 million contracts set over the past session. ATNX shares’ daily volume is compared to its average trading volume at 0.519 million shares. However, it has a float of 52.72 million and although its performance was 16.23% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ATNX share price recently placing at $12.01 to $13.83. However, some brokerage firms have priced the stock below the average, including one that has called $13.69.
The shorts are climbing into the Athenex, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ATNX shares have risen. Short interest in the stock represents just 17.57% of its float, but the volume has raised by 185732. The volume of shorted shares rised to 9.262 million from 9.077 million shares over the last two weeks. The average intraday trading volume has been 469509 shares, which means that days to cover moved to roughly 19.727737.
In the last trading session, Athenex, Inc. (NASDAQ:ATNX) raised by $1.75 over the week and gained $1.29 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $18.35. The stock recorded its established 52-week high on 12/11/19.
Since 03/18/20, the stock has traded to a low of $5.63 at 122.56%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Athenex, Inc.’s two-week RSI is 61.31. This suggests that the stock is neutral at the moment and that ATNX shares’ price movement remains stable. The stochastic readings are equally revealing at 60.28% meaning the ATNX share price is currently in neutral territory.
The technical chart shows that the ATNX stock will likely settle at between $13.57 and $14.61 per share. However, if the stock dips below $11.75, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.97.
Currently, the stock is trading in the green of MACD, with a reading of 0.74. 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 RBC Capital Mkts though raised target price of ATNX stock from $29 to $31 but maintained Outperform recommendation in their June 25 review. Oppenheimer analysts see the stock as a Outperform with a target price of $20 in a flash note released to investors on May 02 initiating covering the stock. SunTrust analysts see the stock as Buy when the analysts initiated the share price coverage on March 29, placing it at $20.
The average rating for the ATNX equity is 1.75 and is currently gathering a bullish momentum. Of 8 analysts tracking Athenex, Inc. polled by Reuters, 0 rated ATNX as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) 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 Athenex, Inc. (NASDAQ:ATNX) will decrease by about -99.94%, which will see them reach $23.83 million. The company’s full-year revenues are, however, expected to increase by about 30.18%, up from $101 million to $132 million. ATNX’s expected adjusted earnings should drop almost -4.44% to end up at -$0.43 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -1.2% to record -$1.65/share.