What just happened? Avadel Pharmaceuticals plc (NASDAQ:AVDL) stock value has climbed by nearly 7.67% or (0.1 points) to $1.36 from its previous close of $1.26. 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 112628 contracts so far this session. AVDL shares had a relatively better volume day versus average trading capacity of 185.59 thousand shares, but with a 35.69 million float and a 8.62% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AVDL stock indicates that the average analyst price target is $2 per share. This means the stock has a potential increase of 47.06% from where the AVDL share price has been trading recently which is between $1.26 and $1.34. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.
The shorts are climbing into Avadel Pharmaceuticals plc (AVDL) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in AVDL shares. While short interest still represents only 7.96% of AVDL’s float, the number of shares shorted have risen by 493148. The number of shares shorted advanced to 3332130 shares, up from 2838982 shares during the preceding fortnight. With average daily trading volumes at 233002 shares, days to cover decreased to about 14.77336 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Introducing Avadel Pharmaceuticals (NASDAQ:AVDL), The Stock That Tanked 82%” and dated May 08, 2019.
During the recent trading session for Avadel Pharmaceuticals plc (NASDAQ:AVDL), the company witnessed their stock rise $0.14 over a week and surge $0.2 from the price 20 days ago. When compared to their established 52-week high of $7.97, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/15/18. The recent low of $1.03 stood for a -82.98% since 04/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.71 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 Avadel Pharmaceuticals plc, the two-week RSI stands at 55. This figure suggests that AVDL 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 AVDL readings is similarly very revealing as it has a stochastic reading of 70.88% at this stage. This figure means that AVDL share price today is being oversold.
Technical chart claims that Avadel Pharmaceuticals plc (AVDL) would settle between $1.31/share to $1.37/share level. However, if the stock price goes below the $1.23 mark, then the market for Avadel Pharmaceuticals plc becomes much weaker. If that happens, the stock price might even plunge as low as $1.21 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. 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 Ladenburg Thalmann lowered their recommendation on shares of AVDL from Buy to Neutral in their opinion released on February 08.
AVDL equity has an average rating of 3, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 0 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. 0 analysts rated Avadel Pharmaceuticals plc (NASDAQ:AVDL) 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.
Moving on, AVDL stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.56 while for the average stock in the same group, the multiple is 49.5. Avadel Pharmaceuticals plc current P/E ratio of 12.12 means it is trading at a discount against its industry’s 69.3. In the past 5 years, this ratio for the stock has been fluctuating between 12.72 and 12.72.