Palomar Holdings, Inc. (NASDAQ:PLMR) is among the top gainers of the stock market today, skyrocketing 10.37% or (2.05 points) to $21.82 from its previous close of $19.77. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 136056 contracts so far this session. PLMR shares had a relatively better volume day versus average trading capacity of 297.12 thousand shares, but with a 0 million float and a 2.49% run over a week, it’s definitely worth keeping an eye on. PLMR share price has been trading recently between $19.5 and $21.16. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $20.
The shorts are climbing into Palomar Holdings, Inc. (PLMR) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in PLMR shares. While short interest still represents only 0% of PLMR’s float, the number of shares shorted have risen by 1801. The number of shares shorted advanced to 1801 shares, up from shares during the preceding fortnight. With average daily trading volumes at 569001 shares, days to cover increased to about days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Palomar Holdings, Inc. Reports First Quarter 2019 Results” and dated May 17, 2019.
Looking at the current readings for Palomar Holdings, Inc., the two-week RSI stands at 0. This figure suggests that PLMR 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 PLMR readings is similarly very revealing as it has a stochastic reading of 68.97% at this stage. This figure means that PLMR share price today is being neutral.
Technical chart claims that Palomar Holdings, Inc. (PLMR) would settle between $20.79/share to $21.8/share level. However, if the stock price goes below the $19.13 mark, then the market for Palomar Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $18.48 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.73. 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 William Blair, assumed coverage of PLMR assigning Outperform rating, according to their opinion released on May 15. SunTrust, analysts launched coverage of Palomar Holdings, Inc. (NASDAQ:PLMR) stock with a Buy recommendation, according to their flash note issued to investors on May 13. Analysts at Keefe Bruyette, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to May 13.
PLMR equity has an average rating of 2, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 1 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 no rated it as a sell. 6 analysts rated Palomar Holdings, Inc. (NASDAQ:PLMR) 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.