Twist Bioscience Corporation (NASDAQ:TWST) is -1.82 points lower today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has plummeted by nearly -7.07% to $23.91 from its previous close of $25.73. 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 173858 contracts so far this session. TWST shares had a relatively better volume day versus average trading capacity of 223.35 thousand shares, but with a 25.87 million float and a -0.31% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TWST stock indicates that the average analyst price target is $29.5 per share. This means the stock has a potential increase of 23.38% from where the TWST share price has been trading recently which is between $25.25 and $26.05. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $27.
The shorts are running away from Twist Bioscience Corporation (TWST) stock. The latest set of short interest data was released on 15 May 2019, and the numbers show a drop in short interest in TWST shares. While short interest still represents only 2% of TWST’s float, the number of shares shorted have fallen by -29059. The number of shares shorted fell to 516748 shares, down from 545807 shares during the preceding fortnight. With average daily trading volumes at 479195 shares, days to cover decreased to about 2.928322 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Twist Bioscience to Present at the Jefferies 2019 Global Healthcare Conference” and dated May 28, 2019.
Looking at the current readings for Twist Bioscience Corporation, the two-week RSI stands at 43.21. This figure suggests that TWST 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 TWST readings is similarly very revealing as it has a stochastic reading of 56.46% at this stage. This figure means that TWST share price today is being neutral.
Technical chart claims that Twist Bioscience Corporation (TWST) would settle between $26.1/share to $26.48/share level. However, if the stock price goes below the $25.3 mark, then the market for Twist Bioscience Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $24.88 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.15. 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 Evercore ISI, assumed coverage of TWST assigning Outperform rating, according to their opinion released on May 31. JP Morgan, analysts launched coverage of Twist Bioscience Corporation (NASDAQ:TWST) stock with a Neutral recommendation, according to their flash note issued to investors on November 26.
TWST equity has an average rating of 2, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 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. 3 analysts rated Twist Bioscience Corporation (NASDAQ:TWST) 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.