Today’s big question for investors is, “what’s going on with DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) stock? Its price is jumping 0.01 points, trading at $0.63 levels, and is up 0.98% from its previous close of $0.62. The shares seem to have an active trading volume day with a reported 177959 contracts so far this session. DMPI shares had a relatively better volume day versus average trading capacity of 802.55 thousand shares, but with a 3.91 million float and a 8.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DMPI stock indicates that the average analyst price target is $12 per share. This means the stock has a potential increase of 1804.76% from where the DMPI share price has been trading recently which is between $0.61 and $0.6479.
The shorts are climbing into DelMar Pharmaceuticals, Inc. (DMPI) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in DMPI shares. While short interest still represents only 11.32% of DMPI’s float, the number of shares shorted have risen by 262462. The number of shares shorted advanced to 443016 shares, up from 180554 shares during the preceding fortnight. With average daily trading volumes at 739534 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 “DelMar Pharmaceuticals to Present at the Fall Investor Summit on September 16, 2019” and dated September 11, 2019.
During the recent trading session for DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI), the company witnessed their stock rise $0.05 over a week and tumble down $-0.92 from the price 20 days ago. When compared to their established 52-week high of $8.5, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/24/18. The recent low of $0.55 stood for a -92.59% since 09/04/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.27 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 DelMar Pharmaceuticals, Inc., the two-week RSI stands at 30.58. This figure suggests that DMPI 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 DMPI readings is similarly very revealing as it has a stochastic reading of 24.66% at this stage. This figure means that DMPI share price today is being overbought.
Technical chart claims that DelMar Pharmaceuticals, Inc. (DMPI) would settle between $0.64/share to $0.67/share level. However, if the stock price goes below the $0.61 mark, then the market for DelMar Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.59 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 Maxim Group lowered their recommendation on shares of DMPI from Buy to Hold in their opinion released on August 14.
DMPI equity has an average rating of 1, 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 DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) 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, DMPI stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is 3.8. DelMar Pharmaceuticals, Inc. current P/B ratio of NA means it is trading at a premium against its industry’s 2.94.