Possible Explanations for Why Amyris, Inc. (AMRS) Trades Today Down -4.21%

An interesting stock that came up in some of our conversations today is Amyris, Inc. (NASDAQ:AMRS). At current price of $3.48, the shares have already lost -0.15 points (-4.21% lower) from its previous close of $3.63. Should you buy or avoid them? The stock sets an active trading volume day with a reported 442913 contracts so far this session. AMRS shares had a relatively better volume day versus average trading capacity of 772.11 thousand shares, but with a 32.82 million float and a 23.89% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AMRS stock indicates that the average analyst price target is $11 per share. This means the stock has a potential increase of 216.09% from where the AMRS share price has been trading recently which is between $2.89 and $3.7.

The shorts are running away from Amyris, Inc. (AMRS) stock. The latest set of short interest data was released on 15 July 2019, and the numbers show a drop in short interest in AMRS shares. While short interest still represents only 34.45% of AMRS’s float, the number of shares shorted have fallen by -135534. The number of shares shorted fell to 11171824 shares, down from 11307358 shares during the preceding fortnight. With average daily trading volumes at 431176 shares, days to cover increased to about 15.19743 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Lavvan Appoints Former MedReleaf CEO Neil Closner To Its C-Suite” and dated August 08, 2019.

During the recent trading session for Amyris, Inc. (NASDAQ:AMRS), the company witnessed their stock rise $0.73 over a week and surge $0.42 from the price 20 days ago. When compared to their established 52-week high of $9.28, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/10/18. The recent low of $1.87 stood for a -62.55% since 03/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.02 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 Amyris, Inc., the two-week RSI stands at 58.41. This figure suggests that AMRS 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 AMRS readings is similarly very revealing as it has a stochastic reading of 74.81% at this stage. This figure means that AMRS share price today is being oversold.

Technical chart claims that Amyris, Inc. (AMRS) would settle between $3.92/share to $4.22/share level. However, if the stock price goes below the $3.11 mark, then the market for Amyris, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.6 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.3. 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 B. Riley FBR lifted target price for shares of AMRS but were stick to Buy recommendation for the stock in their opinion released on November 14. The price target has been raised from $10 to $8. B. Riley FBR, Inc., analysts launched coverage of Amyris, Inc. (NASDAQ:AMRS) stock with a Buy recommendation, according to their flash note issued to investors on January 25. Analysts at Stifel, made their first call for the equity with a Hold recommendation, according to a research note that dated back to May 28.

AMRS equity has an average rating of 2, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 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. 1 analysts rated Amyris, Inc. (NASDAQ:AMRS) 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, AMRS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.45 while for the average stock in the same group, the multiple is 1.83.