Zosano Pharma Corporation (ZSAN): Why Is It Down -4.17 Percent Today

The biggest losers of the session on the Wall Street include Zosano Pharma Corporation (NASDAQ:ZSAN), which fell -0.13 points or -4.17% to trade at $2.99 as last check. The stock closed last session at $3.12 and sets an active trading volume day with a reported 227197 contracts so far this session. ZSAN shares had a relatively better volume day versus average trading capacity of 2.5 million shares, but with a 16.64 million float and a -8.77% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ZSAN stock indicates that the average analyst price target is $13 per share. This means the stock has a potential increase of 334.78% from where the ZSAN share price has been trading recently which is between $2.88 and $3.3739. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $8.

The shorts are climbing into Zosano Pharma Corporation (ZSAN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in ZSAN shares. While short interest still represents only 11.96% of ZSAN’s float, the number of shares shorted have risen by 470224. The number of shares shorted advanced to 2459305 shares, up from 1989081 shares during the preceding fortnight. With average daily trading volumes at 816278 shares, days to cover increased to about 2.116253 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Zosano Pharma Reports First Quarter 2019 Financial Results” and dated May 14, 2019.

During the recent trading session for Zosano Pharma Corporation (NASDAQ:ZSAN), the company witnessed their stock drop by $-0.6 over a week and tumble down $-0.55 from the price 20 days ago. When compared to their established 52-week high of $6.65, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/21/19. The recent low of $1.85 stood for a -55.04% since 12/28/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.56 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 Zosano Pharma Corporation, the two-week RSI stands at 27.76. This figure suggests that ZSAN stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current ZSAN readings is similarly very revealing as it has a stochastic reading of 17.63% at this stage. This figure means that ZSAN share price today is being overbought.

Technical chart claims that Zosano Pharma Corporation (ZSAN) would settle between $3.37/share to $3.62/share level. However, if the stock price goes below the $2.88 mark, then the market for Zosano Pharma Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $2.63 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.23. 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 Maxim Group, assumed coverage of ZSAN assigning Buy rating, according to their opinion released on April 17. Piper Jaffray, analysts launched coverage of Zosano Pharma Corporation (NASDAQ:ZSAN) stock with a Overweight recommendation, according to their flash note issued to investors on March 24. Analysts at Ladenburg Thalmann lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to August 11.

ZSAN equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 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. 3 analysts rated Zosano Pharma Corporation (NASDAQ:ZSAN) 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.