Why Kitov Pharma Ltd (KTOV) Stock Wiped Out -7.29% Today

Kitov Pharma Ltd (NASDAQ:KTOV) is a stock to watch today. At current price of $1.24, the shares have already lost -0.1 points (-7.29% lower) from its previous close of $1.34. The stock sets an active trading volume day with a reported 611235 contracts so far this session. KTOV shares had a relatively better volume day versus average trading capacity of 2.23 million shares, but with a 0 million float and a 8.94% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for KTOV stock indicates that the average analyst price target is $12.5 per share. This means the stock has a potential increase of 908.06% from where the KTOV share price has been trading recently which is between $1.28 and $1.72.

The shorts are running away from Kitov Pharma Ltd (KTOV) stock. The latest set of short interest data was released on 28 February 2019, and the numbers show a drop in short interest in KTOV shares. While short interest still represents only 0% of KTOV’s float, the number of shares shorted have fallen by -83874. The number of shares shorted fell to 583100 shares, down from 666974 shares during the preceding fortnight. With average daily trading volumes at 259341 shares, days to cover increased to about 1.161015 days.

During the recent trading session for Kitov Pharma Ltd (NASDAQ:KTOV), the company witnessed their stock rise $0.05 over a week and surge $0.09 from the price 20 days ago. When compared to their established 52-week high of $3.81, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/31/18. The recent low of $0.56 stood for a -67.39% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less 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 Kitov Pharma Ltd, the two-week RSI stands at 39.34. This figure suggests that KTOV stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current KTOV readings is similarly very revealing as it has a stochastic reading of 55.9% at this stage. This figure means that KTOV share price today is being neutral.

Technical chart claims that Kitov Pharma Ltd (KTOV) would settle between $1.61/share to $1.89/share level. However, if the stock price goes below the $1.17 mark, then the market for Kitov Pharma Ltd becomes much weaker. If that happens, the stock price might even plunge as low as $1.01 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. 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 H.C. Wainwright raised their recommendation on shares of KTOV from Neutral to Buy in their opinion released on November 21. Rodman & Renshaw, analysts launched coverage of Kitov Pharma Ltd (NASDAQ:KTOV) stock with a Buy recommendation, according to their flash note issued to investors on February 16.

KTOV equity has an average rating of 2, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Kitov Pharma Ltd (NASDAQ:KTOV) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.