Today’s big question for investors is, “what’s going on with Abiomed, Inc. (NASDAQ:ABMD) stock? Its price is jumping 8.82 points, trading at $264.63 levels, and is up 3.45% from its previous close of $255.81. The shares seem to have an active trading volume day with a reported 334998 contracts so far this session. ABMD shares had a relatively better volume day versus average trading capacity of 745.59 thousand shares, but with a 44.22 million float and a -2.17% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ABMD stock indicates that the average analyst price target is $336.88 per share. This means the stock has a potential increase of 27.3% from where the ABMD share price has been trading recently which is between $255.56 and $262.15. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $300.
The shorts are running away from Abiomed, Inc. (ABMD) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a drop in short interest in ABMD shares. While short interest still represents only 5.7% of ABMD’s float, the number of shares shorted have fallen by -126872. The number of shares shorted fell to 2254859 shares, down from 2381731 shares during the preceding fortnight. With average daily trading volumes at 475873 shares, days to cover increased to about 3.702054 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Abiomed First Quarter Fiscal 2020 Earnings and Conference Call Notification” and dated July 11, 2019.
During the recent trading session for Abiomed, Inc. (NASDAQ:ABMD), the company witnessed their stock rise $3.55 over a week and surge $10.34 from the price 20 days ago. When compared to their established 52-week high of $459.75, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/01/18. The recent low of $228 stood for a -42.44% since 05/02/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.31 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 Abiomed, Inc., the two-week RSI stands at 56.71. This figure suggests that ABMD 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 ABMD readings is similarly very revealing as it has a stochastic reading of 34.7% at this stage. This figure means that ABMD share price today is being neutral.
Technical chart claims that Abiomed, Inc. (ABMD) would settle between $260.12/share to $264.43/share level. However, if the stock price goes below the $253.53 mark, then the market for Abiomed, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $251.25 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.29. 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 Morgan Stanley raised their recommendation on shares of ABMD from Equal-Weight to Overweight in their opinion released on November 07. BTIG Research analysts bumped their rating on Abiomed, Inc. (NASDAQ:ABMD) stock from Neutral to Buy in a separate flash note issued to investors on November 02. Analysts at Piper Jaffray are sticking to their Overweight stance. However, on June 22, they lifted price target for these shares to $480 from $360.
ABMD equity has an average rating of 1.33, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 9 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. 9 analysts rated Abiomed, Inc. (NASDAQ:ABMD) 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, ABMD stock price is currently trading at 43.92X forward 12-month Consensus EPS estimates, and its P/S ratio is 16.24 while for the average stock in the same group, the multiple is 13.13. Abiomed, Inc. current P/E ratio of 103.14 means it is trading at a discount against its industry’s 191.93. In the past 5 years, this ratio for the stock has been fluctuating between 26.98 and 147.39.
Abiomed, Inc. (ABMD)’s current-quarter revenues are projected to climb by nearly 16.98% to hit $210580, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 20.26% from $769430 to a noteworthy $925300. At the other end of the current quarter income statement, Abiomed, Inc. is expected to see its adjusted earnings surge by roughly 37.18% to hit $1.07 per share. For the fiscal year, ABMD’s earnings are projected to climb by roughly -19.79% to hit $4.5 per share.