Altimmune, Inc. (NASDAQ:ALT) is among the top losers of the stock market today, sinking -4.21% or (-0.11 points) to $2.5 from its previous close of $2.61. 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 115076 contracts so far this session. ALT shares had a relatively better volume day versus average trading capacity of 1.59 million shares, but with a 12.53 million float and a -8.74% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ALT stock indicates that the average analyst price target is $10 per share. This means the stock has a potential increase of 300% from where the ALT share price has been trading recently which is between $2.56 and $2.6809.
The shorts are climbing into Altimmune, Inc. (ALT) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in ALT shares. While short interest still represents only 12.62% of ALT’s float, the number of shares shorted have risen by 87469. The number of shares shorted advanced to 1669216 shares, up from 1581747 shares during the preceding fortnight. With average daily trading volumes at 484689 shares, days to cover increased to about 1.466707 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Altimmune Announces First Quarter 2019 Financial Results and Provides a Business Update” and dated May 14, 2019.
During the recent trading session for Altimmune, Inc. (NASDAQ:ALT), the company witnessed their stock drop by $-0.25 over a week and tumble down $-0.22 from the price 20 days ago. When compared to their established 52-week high of $36.25, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/20/18. The recent low of $1.7 stood for a -93.1% 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 3.26 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 Altimmune, Inc., the two-week RSI stands at 35.38. This figure suggests that ALT 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 ALT readings is similarly very revealing as it has a stochastic reading of 38.75% at this stage. This figure means that ALT share price today is being neutral.
Technical chart claims that Altimmune, Inc. (ALT) would settle between $2.67/share to $2.74/share level. However, if the stock price goes below the $2.55 mark, then the market for Altimmune, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.5 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.14. 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 Piper Jaffray, assumed coverage of ALT assigning Overweight rating, according to their opinion released on October 09.
Moving on, ALT stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.4 while for the average stock in the same group, the multiple is 42.11.