The Reason For Today’s -4.6% Weakness in Yuma Energy, Inc. (YUMA) Shares

Yuma Energy, Inc. (NYSE:YUMA) is among the top losers of the stock market today, sinking -4.6% or (-0.01 points) to $0.29 from its previous close of $0.3. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 499874 contracts so far this session. YUMA shares had a relatively better volume day versus average trading capacity of 4.35 million shares, but with a 17.66 million float and a 4.31% run over a week, it’s definitely worth keeping an eye on. YUMA share price has been trading recently between $0.28 and $0.31.

The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Yuma Energy, Inc. Confirms No Material Change” and dated April 25, 2019.

During the recent trading session for Yuma Energy, Inc. (NYSE:YUMA), the company witnessed their stock rise $0.02 over a week and surge $0.09 from the price 20 days ago. When compared to their established 52-week high of $0.98, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/28/18. The recent low of $0.09 stood for a -70.81% 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 2.06 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is less volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Yuma Energy, Inc., the two-week RSI stands at 52.44. This figure suggests that YUMA 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 YUMA readings is similarly very revealing as it has a stochastic reading of 17.61% at this stage. This figure means that YUMA share price today is being overbought.

Technical chart claims that Yuma Energy, Inc. (YUMA) would settle between $0.31/share to $0.33/share level. However, if the stock price goes below the $0.28 mark, then the market for Yuma Energy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.27 for its downside target.

Analysts at MLV & Co, assumed coverage of YUMA assigning Buy rating, according to their opinion released on April 17.

Moving on, YUMA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.32 while for the average stock in the same group, the multiple is 95.82.