An interesting stock that came up in some of our conversations today is Phio Pharmaceuticals Corp. (NASDAQ:PHIO). At current price of $0.46, the shares have already lost -0.02 points (-4.23% lower) from its previous close of $0.48. Should you buy or avoid them? The stock sets an active trading volume day with a reported 193297 contracts so far this session. PHIO shares had a relatively better volume day versus average trading capacity of 698.66 thousand shares, but with a 20.75 million float and a 1.04% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PHIO stock indicates that the average analyst price target is $2 per share. This means the stock has a potential increase of 334.78% from where the PHIO share price has been trading recently which is between $0.473 and $0.4989. 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 running away from Phio Pharmaceuticals Corp. (PHIO) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in PHIO shares. While short interest still represents only 4.08% of PHIO’s float, the number of shares shorted have fallen by -9421. The number of shares shorted fell to 836492 shares, down from 845913 shares during the preceding fortnight. With average daily trading volumes at 344613 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Phio Pharmaceuticals Reports First Quarter 2019 Financial Results and Corporate Highlights” and dated May 14, 2019.
During the recent trading session for Phio Pharmaceuticals Corp. (NASDAQ:PHIO), the company witnessed their stock rise $unch over a week and surge $unch from the price 20 days ago. When compared to their established 52-week high of $2.84, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/18/18. The recent low of $0.27 stood for a -83.98% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.05 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 Phio Pharmaceuticals Corp., the two-week RSI stands at 47.17. This figure suggests that PHIO 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 PHIO readings is similarly very revealing as it has a stochastic reading of 44.67% at this stage. This figure means that PHIO share price today is being neutral.
Technical chart claims that Phio Pharmaceuticals Corp. (PHIO) would settle between $0.49/share to $0.51/share level. However, if the stock price goes below the $0.47 mark, then the market for Phio Pharmaceuticals Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $0.46 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.01. 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.
Moving on, PHIO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 82.24 while for the average stock in the same group, the multiple is 42.11.