Compugen Ltd. (NASDAQ:CGEN) is 0.22 points higher 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 climbed by nearly 6.61% to $3.61 from its previous close of $3.39. 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 182491 contracts so far this session. CGEN shares had a relatively better volume day versus average trading capacity of 144.46 thousand shares, but with a 57.48 million float and a 17.71% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CGEN stock indicates that the average analyst price target is $9 per share. This means the stock has a potential increase of 149.31% from where the CGEN share price has been trading recently which is between $3.27 and $3.46. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.
The shorts are climbing into Compugen Ltd. (CGEN) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in CGEN shares. While short interest still represents only 5.96% of CGEN’s float, the number of shares shorted have risen by 1146. The number of shares shorted advanced to 3428866 shares, up from 3427720 shares during the preceding fortnight. With average daily trading volumes at 85146 shares, days to cover decreased to about 42.60313 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “The Compugen (NASDAQ:CGEN) Share Price Is Down 63% So Some Shareholders Are Wishing They Sold” and dated June 12, 2019.
During the recent trading session for Compugen Ltd. (NASDAQ:CGEN), the company witnessed their stock rise $0.45 over a week and surge $0.09 from the price 20 days ago. When compared to their established 52-week high of $4.31, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/28/19. The recent low of $2 stood for a -16.15% since 12/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.49 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 Compugen Ltd., the two-week RSI stands at 59.72. This figure suggests that CGEN 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 CGEN readings is similarly very revealing as it has a stochastic reading of 88.81% at this stage. This figure means that CGEN share price today is being oversold.
Technical chart claims that Compugen Ltd. (CGEN) would settle between $3.48/share to $3.56/share level. However, if the stock price goes below the $3.29 mark, then the market for Compugen Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $3.18 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.31. 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 Oppenheimer, assumed coverage of CGEN assigning Outperform rating, according to their opinion released on March 29. Oppenheimer, analysts launched coverage of Compugen Ltd. (NASDAQ:CGEN) stock with a Outperform recommendation, according to their flash note issued to investors on February 01. Analysts at FBR Capital, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to October 15.
CGEN equity has an average rating of 1, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 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 Compugen Ltd. (NASDAQ:CGEN) 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, CGEN stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 26.01 while for the average stock in the same group, the multiple is 43.4.