Conformis, Inc. (NASDAQ:CFMS) is one of the best performers on the stock market today. At current price of $1.58, the shares have already added 0.1 points (6.76% higher) from its previous close of $1.48. Should you buy or avoid them? The stock sets an active trading volume day with a reported 461482 contracts so far this session. CFMS shares had a relatively better volume day versus average trading capacity of 731.78 thousand shares, but with a 56.2 million float and a 25.42% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CFMS stock indicates that the average analyst price target is $2.5 per share. This means the stock has a potential increase of 58.23% from where the CFMS share price has been trading recently which is between $1.3099 and $1.48. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.
The shorts are climbing into Conformis, Inc. (CFMS) stock. The latest set of short interest data was released on 28 February 2019, and the numbers show a rise in short interest in CFMS shares. While short interest still represents only 1.22% of CFMS’s float, the number of shares shorted have risen by 889842. The number of shares shorted advanced to 1573885 shares, up from 684043 shares during the preceding fortnight. With average daily trading volumes at 1204909 shares, days to cover increased to about 1 days.
During the recent trading session for Conformis, Inc. (NASDAQ:CFMS), the company witnessed their stock rise $0.43 over a week and surge $0.58 from the price 20 days ago. When compared to their established 52-week high of $1.84, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/23/18. The recent low of $0.36 stood for a -14.12% since 12/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.91 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Conformis, Inc., the two-week RSI stands at 77.05. This figure suggests that CFMS stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CFMS readings is similarly very revealing as it has a stochastic reading of 90.72% at this stage. This figure means that CFMS share price today is being oversold.
Technical chart claims that Conformis, Inc. (CFMS) would settle between $1.54/share to $1.59/share level. However, if the stock price goes below the $1.37 mark, then the market for Conformis, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.17. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan lowered their recommendation on shares of CFMS from Neutral to Underweight in their opinion released on January 02. BTIG Research analysts bumped their rating on Conformis, Inc. (NASDAQ:CFMS) stock from Neutral to Buy in a separate flash note issued to investors on December 20. Analysts at Deutsche Bank lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to August 04.
CFMS equity has an average rating of 1.83, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 5 analysts rated Conformis, Inc. (NASDAQ:CFMS) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CFMS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.34 while for the average stock in the same group, the multiple is 6.68.
Conformis, Inc. (CFMS)’s current-quarter revenues are projected to climb by nearly 2.3% to hit $20.11 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -7.64% from $89.79 million to a noteworthy $82.93 million. At the other end of the current quarter income statement, Conformis, Inc. is expected to see its adjusted earnings surge by roughly 45.45% to hit $-0.12 per share. For the fiscal year, CFMS’s earnings are projected to climb by roughly 41.89% to hit $-0.43 per share.