What’s wrong with Organovo Holdings, Inc. (ONVO) today

Stay Ahead of Wall Street. Find out what is happening to Organovo Holdings, Inc. (NASDAQ:ONVO) stock today? Its price is nose-diving -0.02 points, trading at $0.52 levels, and is down -3.87% from its previous close of $0.54. The shares seem to have an active trading volume day with a reported 321372 contracts so far this session. ONVO shares had a relatively better volume day versus average trading capacity of 2.48 million shares, but with a 0.11 billion float and a 14.89% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ONVO stock indicates that the average analyst price target is $2.5 per share. This means the stock has a potential increase of 380.77% from where the ONVO share price has been trading recently which is between $0.4739 and $0.5499. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.5.

The shorts are climbing into Organovo Holdings, Inc. (ONVO) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in ONVO shares. While short interest still represents only 8.45% of ONVO’s float, the number of shares shorted have risen by 4354627. The number of shares shorted advanced to 13560473 shares, up from 9205846 shares during the preceding fortnight. With average daily trading volumes at 3369132 shares, days to cover decreased to about 4.120259 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “What Kind Of Shareholders Own Organovo Holdings, Inc. (NASDAQ:ONVO)?” and dated July 09, 2019.

During the recent trading session for Organovo Holdings, Inc. (NASDAQ:ONVO), the company witnessed their stock rise $0.04 over a week and surge $0.01 from the price 20 days ago. When compared to their established 52-week high of $1.4, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/19/18. The recent low of $0.37 stood for a -62.92% since 05/24/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.79 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 Organovo Holdings, Inc., the two-week RSI stands at 46.97. This figure suggests that ONVO 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 ONVO readings is similarly very revealing as it has a stochastic reading of 74.32% at this stage. This figure means that ONVO share price today is being oversold.

Technical chart claims that Organovo Holdings, Inc. (ONVO) would settle between $0.57/share to $0.6/share level. However, if the stock price goes below the $0.49 mark, then the market for Organovo Holdings, 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 0.02. 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 H.C. Wainwright, assumed coverage of ONVO assigning Buy rating, according to their opinion released on December 13. Raymond James analysts have lowered their rating of Organovo Holdings, Inc. (NASDAQ:ONVO) stock from Outperform to Mkt Perform in a separate flash note issued to investors on November 10. Analysts at Raymond James, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to January 25.

ONVO equity has an average rating of 2, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 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 Organovo Holdings, Inc. (NASDAQ:ONVO) 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, ONVO stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 20.17 while for the average stock in the same group, the multiple is 42.3.

Organovo Holdings, Inc. (ONVO)’s current-quarter revenues are projected to climb by nearly 11.45% to hit $0.77 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 4.98% from $3.09 million to a noteworthy $3.25 million. At the other end of the current quarter income statement, Organovo Holdings, Inc. is expected to see its adjusted earnings surge by roughly 28.57% to hit $-0.05 per share. For the fiscal year, ONVO’s earnings are projected to climb by roughly 8.7% to hit $-0.21 per share.