Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) is one of the best performers on the stock market today. At current price of $1.9, the shares have already added 0.06 points (3.26% higher) from its previous close of $1.84. Should you buy or avoid them? The stock sets an active trading volume day with a reported 138097 contracts so far this session. ADMP shares had a relatively better volume day versus average trading capacity of 392.69 thousand shares, but with a 44.03 million float and a -14.81% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ADMP stock indicates that the average analyst price target is $6.4 per share. This means the stock has a potential increase of 236.84% from where the ADMP share price has been trading recently which is between $1.83 and $1.89. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.9.
The shorts are climbing into Adamis Pharmaceuticals Corporation (ADMP) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in ADMP shares. While short interest still represents only 8.49% of ADMP’s float, the number of shares shorted have risen by 143914. The number of shares shorted advanced to 3881740 shares, up from 3737826 shares during the preceding fortnight. With average daily trading volumes at 283863 shares, days to cover increased to about 10.46506 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Adamis Pharmaceuticals Announces Conditional Acceptance by FDA of Proprietary Name for Higher Dose Naloxone Product” and dated May 14, 2019.
During the recent trading session for Adamis Pharmaceuticals Corporation (NASDAQ:ADMP), the company witnessed their stock drop by $-0.06 over a week and tumble down $-0.02 from the price 20 days ago. When compared to their established 52-week high of $5.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/02/18. The recent low of $1.83 stood for a -62.75% since 05/17/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.3 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 Adamis Pharmaceuticals Corporation, the two-week RSI stands at 42. This figure suggests that ADMP 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 ADMP readings is similarly very revealing as it has a stochastic reading of 9.52% at this stage. This figure means that ADMP share price today is being overbought.
Technical chart claims that Adamis Pharmaceuticals Corporation (ADMP) would settle between $1.88/share to $1.91/share level. However, if the stock price goes below the $1.82 mark, then the market for Adamis Pharmaceuticals Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $1.79 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.11. 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 B. Riley FBR lowered their recommendation on shares of ADMP from Buy to Neutral in their opinion released on November 12. Maxim Group analysts again handed out a Buy recommendation to Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) stock but they lifted target price for the shares in a flash note issued to investors on May 11. The target price has been raised from $5 to $10. Analysts at B. Riley FBR, Inc. are sticking to their Buy stance. However, on March 23, they lifted price target for these shares to $7.50 from $6.25.
ADMP equity has an average rating of 2.33, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 2 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. 2 analysts rated Adamis Pharmaceuticals Corporation (NASDAQ:ADMP) 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, ADMP stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 14.52 while for the average stock in the same group, the multiple is 6.59.
Adamis Pharmaceuticals Corporation (ADMP)’s current-quarter revenues are projected to climb by nearly 34.06% to hit $5.26 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 45.99% from $15.09 million to a noteworthy $22.03 million. At the other end of the current quarter income statement, Adamis Pharmaceuticals Corporation is expected to see its adjusted earnings surge by roughly 58.62% to hit $-0.12 per share. For the fiscal year, ADMP’s earnings are projected to climb by roughly 51% to hit $-0.49 per share.