CounterPath Corporation (NASDAQ:CPAH) is among the top gainers of the stock market today, skyrocketing 24.71% or (0.43 points) to $2.17 from its previous close of $1.74. 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 2773828 contracts so far this session. CPAH shares had a relatively better volume day versus average trading capacity of 126.48 thousand shares, but with a 2.57 million float and a 13.94% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CPAH stock indicates that the average analyst price target is $3.45 per share. This means the stock has a potential increase of 58.99% from where the CPAH share price has been trading recently which is between $1.5912 and $1.79.
The shorts are climbing into CounterPath Corporation (CPAH) stock. The latest set of short interest data was released on 14 June 2019, and the numbers show a rise in short interest in CPAH shares. While short interest still represents only 2.46% of CPAH’s float, the number of shares shorted have risen by 25865. The number of shares shorted advanced to 89155 shares, up from 63290 shares during the preceding fortnight. With average daily trading volumes at 181225 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 “CounterPath Receives 2019 Unified Communications Product of the Year Award” and dated June 25, 2019.
During the recent trading session for CounterPath Corporation (NASDAQ:CPAH), the company witnessed their stock rise $0.87 over a week and surge $0.85 from the price 20 days ago. When compared to their established 52-week high of $4.98, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/18/18. The recent low of $0.9 stood for a -56.42% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.24 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 CounterPath Corporation, the two-week RSI stands at 73.19. This figure suggests that CPAH 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 CPAH readings is similarly very revealing as it has a stochastic reading of 64.5% at this stage. This figure means that CPAH share price today is being neutral.
Technical chart claims that CounterPath Corporation (CPAH) would settle between $1.82/share to $1.91/share level. However, if the stock price goes below the $1.62 mark, then the market for CounterPath Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $1.51 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.23. 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.
Moving on, CPAH stock price is currently trading at 8.7X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.24 while for the average stock in the same group, the multiple is 5.2.