Pintec Technology Holdings Limited (NASDAQ:PT) is one of the stocks that are grabbing investor focus today: sinking -4.18% or (-0.12 points) to $2.75 from its previous close of $2.87. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 133479 contracts so far this session. PT shares had a relatively better volume day versus average trading capacity of 233.82 thousand shares, but with a 17.72 million float and a 0% run over a week, it’s definitely worth keeping an eye on. PT share price has been trading recently between $2.75 and $3.06.
The shorts are climbing into Pintec Technology Holdings Limited (PT) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in PT shares. While short interest still represents only 1.37% of PT’s float, the number of shares shorted have risen by 86484. The number of shares shorted advanced to 242856 shares, up from 156372 shares during the preceding fortnight. With average daily trading volumes at 228819 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Pintec Technology Holdings Limited and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm” and dated September 11, 2019.
Looking at the current readings for Pintec Technology Holdings Limited, the two-week RSI stands at 39.16. This figure suggests that PT 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 PT readings is similarly very revealing as it has a stochastic reading of 24.08% at this stage. This figure means that PT share price today is being overbought.
Technical chart claims that Pintec Technology Holdings Limited (PT) would settle between $3.04/share to $3.2/share level. However, if the stock price goes below the $2.73 mark, then the market for Pintec Technology Holdings Limited becomes much weaker. If that happens, the stock price might even plunge as low as $2.58 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.12. 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.
Moving on, PT 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 NA. Pintec Technology Holdings Limited current P/B ratio of NA means it is trading at a premium against its industry’s NA.