Fact Check: What’s up with Eyenovia, Inc. (EYEN) today

The biggest gainers of the session on the Wall Street include Eyenovia, Inc. (NASDAQ:EYEN), which rose 0.25 points or 9.8% to trade at $2.8 as last check. The stock closed last session at $2.55 and sets an active trading volume day with a reported 214807 contracts so far this session. EYEN shares had a relatively better volume day versus average trading capacity of 71.39 million shares, but with a 7.21 million float and a -40.42% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for EYEN stock indicates that the average analyst price target is $17 per share. This means the stock has a potential increase of 507.14% from where the EYEN share price has been trading recently which is between $2.55 and $2.84. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $9.

The shorts are climbing into Eyenovia, Inc. (EYEN) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in EYEN shares. While short interest still represents only 1.7% of EYEN’s float, the number of shares shorted have risen by 12873. The number of shares shorted advanced to 135655 shares, up from 122782 shares during the preceding fortnight. With average daily trading volumes at 38305 shares, days to cover increased to about 2.434895 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Did Eyenovia, Inc. (NASDAQ:EYEN) Insiders Buy Up More Shares?” and dated July 11, 2019.

During the recent trading session for Eyenovia, Inc. (NASDAQ:EYEN), the company witnessed their stock drop by $-1.32 over a week and tumble down $-2.13 from the price 20 days ago. When compared to their established 52-week high of $7.49, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/17/18. The recent low of $2.4 stood for a -62.61% since 12/21/18, 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 Eyenovia, Inc., the two-week RSI stands at 21.87. This figure suggests that EYEN stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current EYEN readings is similarly very revealing as it has a stochastic reading of 12.02% at this stage. This figure means that EYEN share price today is being overbought.

Technical chart claims that Eyenovia, Inc. (EYEN) would settle between $2.74/share to $2.94/share level. However, if the stock price goes below the $2.45 mark, then the market for Eyenovia, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.36 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.83. 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.

EYEN 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 Eyenovia, Inc. (NASDAQ:EYEN) 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.