What’s unusual with Trevena, Inc. (TRVN) today

Stay Ahead of Wall Street. Find out what is happening to Trevena, Inc. (NASDAQ:TRVN) stock today? Its price is jumping 0.04 points, trading at $1.05 levels, and is up 3.96% from its previous close of $1.01. The shares seem to have an active trading volume day with a reported 529416 contracts so far this session. TRVN shares had a relatively better volume day versus average trading capacity of 904.8 thousand shares, but with a 90.65 million float and a -0.98% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TRVN stock indicates that the average analyst price target is $3.75 per share. This means the stock has a potential increase of 257.14% from where the TRVN share price has been trading recently which is between $1 and $1.05. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.5.

The shorts are climbing into Trevena, Inc. (TRVN) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in TRVN shares. While short interest still represents only 7.15% of TRVN’s float, the number of shares shorted have risen by 166505. The number of shares shorted advanced to 6648729 shares, up from 6482224 shares during the preceding fortnight. With average daily trading volumes at 926068 shares, days to cover increased to about 6.396523 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Trevena Appoints Barry Shin as Chief Financial Officer” and dated June 27, 2019.

During the recent trading session for Trevena, Inc. (NASDAQ:TRVN), the company witnessed their stock rise $0.01 over a week and tumble down $-0.04 from the price 20 days ago. When compared to their established 52-week high of $3.58, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/10/18. The recent low of $0.38 stood for a -70.66% 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 2.36 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 Trevena, Inc., the two-week RSI stands at 46.18. This figure suggests that TRVN 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 TRVN readings is similarly very revealing as it has a stochastic reading of 55.98% at this stage. This figure means that TRVN share price today is being neutral.

Technical chart claims that Trevena, Inc. (TRVN) would settle between $1.04/share to $1.07/share level. However, if the stock price goes below the $0.99 mark, then the market for Trevena, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.97 for its downside target.

Analysts at H.C. Wainwright, assumed coverage of TRVN assigning Buy rating, according to their opinion released on May 31. H.C. Wainwright analysts have lowered their rating of Trevena, Inc. (NASDAQ:TRVN) stock from Buy to Neutral in a separate flash note issued to investors on November 05. Analysts at Needham lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to October 12.

TRVN equity has an average rating of 2, 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 Trevena, Inc. (NASDAQ:TRVN) 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, TRVN stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 16.43 while for the average stock in the same group, the multiple is 42.28.