Big changes are happening at Acasti Pharma Inc. (NASDAQ:ACST), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 12.38% or (0.13 points) to $1.18 from its previous close of $1.05. 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 4355510 contracts so far this session. ACST shares had a relatively better volume day versus average trading capacity of 285.5 thousand shares, but with a 67.72 million float and a 13.51% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ACST stock indicates that the average analyst price target is $2.52 per share. This means the stock has a potential increase of 113.56% from where the ACST share price has been trading recently which is between $1 and $1.18. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.5.
The shorts are climbing into Acasti Pharma Inc. (ACST) stock. The latest set of short interest data was released on 14 June 2019, and the numbers show a rise in short interest in ACST shares. While short interest still represents only 0.4% of ACST’s float, the number of shares shorted have risen by 111141. The number of shares shorted advanced to 384246 shares, up from 273105 shares during the preceding fortnight. With average daily trading volumes at 207499 shares, days to cover increased to about 1.555578 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Acasti Pharma Provides Fiscal 2019 Year-End Business Update” and dated June 26, 2019.
During the recent trading session for Acasti Pharma Inc. (NASDAQ:ACST), the company witnessed their stock rise $0.18 over a week and surge $0.34 from the price 20 days ago. When compared to their established 52-week high of $1.8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/10/18. The recent low of $0.43 stood for a -34.44% since 08/16/18, 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 Acasti Pharma Inc., the two-week RSI stands at 84.87. This figure suggests that ACST 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 ACST readings is similarly very revealing as it has a stochastic reading of 78.38% at this stage. This figure means that ACST share price today is being oversold.
Technical chart claims that Acasti Pharma Inc. (ACST) would settle between $1.15/share to $1.26/share level. However, if the stock price goes below the $0.97 mark, then the market for Acasti Pharma Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.9 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.08. 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 H.C. Wainwright, assumed coverage of ACST assigning Buy rating, according to their opinion released on June 26.
ACST equity has an average rating of 1.5, 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 Acasti Pharma Inc. (NASDAQ:ACST) 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.