Why Shares of Cytori Therapeutics, Inc. (CYTX) Are -4.84% Lower Today

Cytori Therapeutics, Inc. (NASDAQ:CYTX) is one of the worst performers on the stock market today. At current price of $0.24, the shares have already lost -0.01 points (-4.84% lower) from its previous close of $0.25. Should you buy or avoid them? The stock sets an active trading volume day with a reported 192963 contracts so far this session. CYTX shares had a relatively better volume day versus average trading capacity of 691.62 thousand shares, but with a 21.59 million float and a -3.75% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CYTX stock indicates that the average analyst price target is $22.5 per share. This means the stock has a potential increase of 9275% from where the CYTX share price has been trading recently which is between $0.24 and $0.26. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $0.8.

The shorts are climbing into Cytori Therapeutics, Inc. (CYTX) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in CYTX shares. While short interest still represents only 0.1% of CYTX’s float, the number of shares shorted have risen by 59576. The number of shares shorted advanced to 81058 shares, up from 21482 shares during the preceding fortnight. With average daily trading volumes at 513011 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Cytori: 1Q Earnings Snapshot” and dated May 14, 2019.

During the recent trading session for Cytori Therapeutics, Inc. (NASDAQ:CYTX), the company witnessed their stock drop by $-0.02 over a week and tumble down $-0.06 from the price 20 days ago. When compared to their established 52-week high of $3, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/24/18. The recent low of $0.22 stood for a -91.93% since 03/13/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.09 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 Cytori Therapeutics, Inc., the two-week RSI stands at 35.39. This figure suggests that CYTX 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 CYTX readings is similarly very revealing as it has a stochastic reading of 10.22% at this stage. This figure means that CYTX share price today is being overbought.

Technical chart claims that Cytori Therapeutics, Inc. (CYTX) would settle between $0.26/share to $0.27/share level. However, if the stock price goes below the $0.24 mark, then the market for Cytori Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.23 for its downside target. The stock is currently in the red 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.

Analysts at Laidlaw, assumed coverage of CYTX assigning Buy rating, according to their opinion released on February 22. Maxim Group analysts again handed out a Buy recommendation to Cytori Therapeutics, Inc. (NASDAQ:CYTX) stock but they lifted target price for the shares in a flash note issued to investors on August 11. The target price has been raised from $10 to $5. Analysts at B. Riley & Co. lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to July 25.

Moving on, CYTX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.53 while for the average stock in the same group, the multiple is 6.34.