Today’s big question for investors is, “what’s going on with Flex Pharma, Inc. (NASDAQ:FLKS) stock? Its price is jumping 0.08 points, trading at $0.84 levels, and is up 10.29% from its previous close of $0.76. The shares seem to have an active trading volume day with a reported 1789450 contracts so far this session. FLKS shares had a relatively better volume day versus average trading capacity of 1.32 million shares, but with a 15.64 million float and a 43.01% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for FLKS stock indicates that the average analyst price target is $20 per share. This means the stock has a potential increase of 2280.95% from where the FLKS share price has been trading recently which is between $0.64 and $0.9779.
The shorts are running away from Flex Pharma, Inc. (FLKS) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a drop in short interest in FLKS shares. While short interest still represents only 6.03% of FLKS’s float, the number of shares shorted have fallen by -193685. The number of shares shorted fell to 748994 shares, down from 942679 shares during the preceding fortnight. With average daily trading volumes at 888802 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 “Flex Pharma Announces Broker Authority to Vote on Certain Proposals” and dated June 25, 2019.
During the recent trading session for Flex Pharma, Inc. (NASDAQ:FLKS), the company witnessed their stock rise $0.29 over a week and surge $0.18 from the price 20 days ago. When compared to their established 52-week high of $1.49, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/16/18. The recent low of $0.26 stood for a -43.74% 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 1.63 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 Flex Pharma, Inc., the two-week RSI stands at 80.16. This figure suggests that FLKS 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 FLKS readings is similarly very revealing as it has a stochastic reading of 75.34% at this stage. This figure means that FLKS share price today is being oversold.
Technical chart claims that Flex Pharma, Inc. (FLKS) would settle between $0.95/share to $1.13/share level. However, if the stock price goes below the $0.61 mark, then the market for Flex Pharma, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.45 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.13. 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 Ladenburg Thalmann lowered their recommendation on shares of FLKS from Buy to Neutral in their opinion released on June 13. Ladenburg Thalmann, analysts launched coverage of Flex Pharma, Inc. (NASDAQ:FLKS) stock with a Buy recommendation, according to their flash note issued to investors on January 25. Analysts at ROTH Capital, made their first call for the equity with a Buy recommendation, according to a research note that dated back to January 03.
Moving on, FLKS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 41.15 while for the average stock in the same group, the multiple is 49.43.