Quanterix Corporation (NASDAQ:QTRX) is one of the stocks that are grabbing investor focus today: skyrocketing 3.89% or (1.24 points) to $33.15 from its previous close of $31.91. 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 108866 contracts so far this session. QTRX shares had a relatively better volume day versus average trading capacity of 145.34 thousand shares, but with a 17.62 million float and a 22.26% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for QTRX stock indicates that the average analyst price target is $29 per share. This means the stock has a potential decrease of -12.52% from where the QTRX share price has been trading recently which is between $30.8764 and $32.19. 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 climbing into Quanterix Corporation (QTRX) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in QTRX shares. While short interest still represents only 3.19% of QTRX’s float, the number of shares shorted have risen by 2052. The number of shares shorted advanced to 564370 shares, up from 562318 shares during the preceding fortnight. With average daily trading volumes at 303041 shares, days to cover decreased to about 3.945178 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Did Quanterix’s (NASDAQ:QTRX) Share Price Deserve to Gain 66%?” and dated June 06, 2019.
During the recent trading session for Quanterix Corporation (NASDAQ:QTRX), the company witnessed their stock rise $4.99 over a week and surge $12.23 from the price 20 days ago. When compared to their established 52-week high of $33.27, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/12/19. The recent low of $13 stood for a 2.98% since 08/15/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less 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 Quanterix Corporation, the two-week RSI stands at 85.57. This figure suggests that QTRX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current QTRX readings is similarly very revealing as it has a stochastic reading of 98.11% at this stage. This figure means that QTRX share price today is being oversold.
Technical chart claims that Quanterix Corporation (QTRX) would settle between $32.44/share to $32.97/share level. However, if the stock price goes below the $31.13 mark, then the market for Quanterix Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $30.35 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 3.22. 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.
QTRX equity has an average rating of 1.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 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. 5 analysts rated Quanterix Corporation (NASDAQ:QTRX) 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.
Quanterix Corporation (QTRX)’s current-quarter revenues are projected to climb by nearly 31.02% to hit $11.32 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 36.12% from $37.63 million to a noteworthy $51.22 million. At the other end of the current quarter income statement, Quanterix Corporation is expected to see its adjusted earnings surge by roughly -26.47% to hit $-0.43 per share. For the fiscal year, QTRX’s earnings are projected to climb by roughly -9.09% to hit $-1.56 per share.