Big changes are happening at Tricida, Inc. (NASDAQ:TCDA), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -3.59% or (-1.24 points) to $33.32 from its previous close of $34.56. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 100779 contracts so far this session. TCDA shares had a relatively better volume day versus average trading capacity of 290.77 thousand shares, but with a 47.38 million float and a -11.5% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TCDA stock indicates that the average analyst price target is $52.67 per share. This means the stock has a potential increase of 58.07% from where the TCDA share price has been trading recently which is between $33.23 and $35.02. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $44.
The shorts are climbing into Tricida, Inc. (TCDA) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in TCDA shares. While short interest still represents only 6.4% of TCDA’s float, the number of shares shorted have risen by 192612. The number of shares shorted advanced to 3224843 shares, up from 3032231 shares during the preceding fortnight. With average daily trading volumes at 308485 shares, days to cover decreased to about 13.81395 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Does Tricida’s (NASDAQ:TCDA) Share Price Gain of 35% Match Its Business Performance?” and dated June 27, 2019.
During the recent trading session for Tricida, Inc. (NASDAQ:TCDA), the company witnessed their stock drop by $-3.9 over a week and tumble down $-1.82 from the price 20 days ago. When compared to their established 52-week high of $42.8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/01/19. The recent low of $19.43 stood for a -22.15% since 01/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 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 Tricida, Inc., the two-week RSI stands at 41.43. This figure suggests that TCDA 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 TCDA readings is similarly very revealing as it has a stochastic reading of 11.14% at this stage. This figure means that TCDA share price today is being overbought.
Technical chart claims that Tricida, Inc. (TCDA) would settle between $35.31/share to $36.06/share level. However, if the stock price goes below the $33.52 mark, then the market for Tricida, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $32.48 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -2.62. 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 Goldman, assumed coverage of TCDA assigning Buy rating, according to their opinion released on June 27. Needham, analysts launched coverage of Tricida, Inc. (NASDAQ:TCDA) stock with a Buy recommendation, according to their flash note issued to investors on May 24. Analysts at JP Morgan, made their first call for the equity with a Neutral recommendation, according to a research note that dated back to July 23.
TCDA equity has an average rating of 2.2, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 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. 4 analysts rated Tricida, Inc. (NASDAQ:TCDA) 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.