International Money Express, Inc. (IMXI) Is Up, So Why Am I Smiling?

The biggest gainers of the session on the Wall Street include International Money Express, Inc. (NASDAQ:IMXI), which rose 0.24 points or 2.01% to trade at $12.17 as last check. The stock closed last session at $11.93 and sets an active trading volume day with a reported 146461 contracts so far this session. IMXI shares had a relatively better volume day versus average trading capacity of 91.83 million shares, but with a 12.67 million float and a -0.58% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for IMXI stock indicates that the average analyst price target is $15.83 per share. This means the stock has a potential increase of 30.07% from where the IMXI share price has been trading recently which is between $11.635 and $12.01. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $14.

The shorts are running away from International Money Express, Inc. (IMXI) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in IMXI shares. While short interest still represents only 6.77% of IMXI’s float, the number of shares shorted have fallen by -285967. The number of shares shorted fell to 571996 shares, down from 857963 shares during the preceding fortnight. With average daily trading volumes at 178627 shares, days to cover decreased to about 11.42595 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “International Money Express, Inc. (IMXI) Q1 2019 Earnings Call Transcript” and dated May 15, 2019.

During the recent trading session for International Money Express, Inc. (NASDAQ:IMXI), the company witnessed their stock rise $0.38 over a week and surge $0.26 from the price 20 days ago. When compared to their established 52-week high of $13.38, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 11/09/18. The recent low of $9.06 stood for a -9.03% since 08/27/18, 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 International Money Express, Inc., the two-week RSI stands at 61.41. This figure suggests that IMXI 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 IMXI readings is similarly very revealing as it has a stochastic reading of 67.71% at this stage. This figure means that IMXI share price today is being neutral.

Technical chart claims that International Money Express, Inc. (IMXI) would settle between $12.08/share to $12.23/share level. However, if the stock price goes below the $11.71 mark, then the market for International Money Express, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $11.48 for its downside target.