The stock of Superconductor Technologies Inc. (NASDAQ:SCON) is now priced at $0.3 and the shares are -0.02 points down or -5.9% lower compared to its previous closing price of $0.32. The stock had 1.509 million contracts set over the past session. SCON shares’ daily volume is compared to its average trading volume at 3.497 million shares. However, it has a float of 27.51 million and although its performance was -17.85% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the SCON share price recently placing at $0.286 to $0.32. However, some brokerage firms have priced the stock below the average, including one that has called $9.

The shorts are climbing into the Superconductor Technologies Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SCON shares have risen. Short interest in the stock represents just 5.87% of its float, but the volume has raised by 406183. The volume of shorted shares rised to 1.614 million from 1.208 million shares over the last two weeks. The average intraday trading volume has been 2.141 million shares, which means that days to cover moved to roughly 1.

In the last trading session, Superconductor Technologies Inc. (NASDAQ:SCON) dropped by -$0.0648 over the week and lost -$0.2668 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $0.9385. The stock recorded its established 52-week high on 09/10/19.

Since 03/19/20, the stock has traded to a low of $0.122 at 144.51%, 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 0.82. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Superconductor Technologies Inc.’s two-week RSI is 28.39. This suggests that the stock is overbought at the moment and that SCON shares’ price movement remains not stable. The stochastic readings are equally revealing at 7.99% meaning the SCON share price is currently in overbought territory.

The technical chart shows that the SCON stock will likely settle at between $0.3169 and $0.3354 per share. However, if the stock dips below $0.2829, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.2674.

Currently, the stock is trading in the red of MACD, with a reading of -0.0236. 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 Rodman & Renshaw raised their recommendation for SCON from Neutral to Buy in April 06 review while maintain their target price of $3. Rodman & Renshaw analysts see the stock as a Neutral in a flash note released to investors on March 30 initiating covering the stock. Ladenburg Thalmann seeing the improvements upgraded the stock from Neutral to Buy on November 11.

The stocks P/S ratio currently stands below the group’s average of 31.5. Superconductor Technologies Inc. has its P/E ratio at 4.3, which means that the stock is currently trading at a discount relative to the 8.1 industry average.