Why RTI Surgical Holdings, Inc. (RTIX) Stock Crashed Nearly -4.9% Today

RTI Surgical Holdings, Inc. (NASDAQ:RTIX) is one of the stocks that are grabbing investor focus today: sinking -4.9% or (-0.17 points) to $3.3 from its previous close of $3.47. 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 259469 contracts so far this session. RTIX shares had a relatively better volume day versus average trading capacity of 143.82 thousand shares, but with a 65.23 million float and a 9.12% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RTIX stock indicates that the average analyst price target is $7.33 per share. This means the stock has a potential increase of 122.12% from where the RTIX share price has been trading recently which is between $3.23 and $3.49.

The shorts are climbing into RTI Surgical Holdings, Inc. (RTIX) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in RTIX shares. While short interest still represents only 1.59% of RTIX’s float, the number of shares shorted have risen by 26923. The number of shares shorted advanced to 1037454 shares, up from 1010531 shares during the preceding fortnight. With average daily trading volumes at 189552 shares, days to cover decreased to about 9.421146 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “RTI Surgical Holdings, Inc. (RTIX) Q2 2019 Earnings Call Transcript” and dated August 01, 2019.

During the recent trading session for RTI Surgical Holdings, Inc. (NASDAQ:RTIX), the company witnessed their stock rise $0.2 over a week and surge $0.15 from the price 20 days ago. When compared to their established 52-week high of $6.15, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/01/19. The recent low of $2.95 stood for a -46.34% since 08/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.37 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 RTI Surgical Holdings, Inc., the two-week RSI stands at 47.53. This figure suggests that RTIX 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 RTIX readings is similarly very revealing as it has a stochastic reading of 74.27% at this stage. This figure means that RTIX share price today is being oversold.

Technical chart claims that RTI Surgical Holdings, Inc. (RTIX) would settle between $3.56/share to $3.66/share level. However, if the stock price goes below the $3.3 mark, then the market for RTI Surgical Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.14 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.13. 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 Cantor Fitzgerald, assumed coverage of RTIX assigning Overweight rating, according to their opinion released on May 30. Craig Hallum analysts have lowered their rating of RTI Surgical Holdings, Inc. (NASDAQ:RTIX) stock from Buy to Hold in a separate flash note issued to investors on July 28. Analysts at Sidoti, made their first call for the equity with a Buy recommendation, according to a research note that dated back to May 21.

RTIX 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 RTI Surgical Holdings, Inc. (NASDAQ:RTIX) 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, RTIX stock price is currently trading at 41.81X forward 12-month Consensus EPS estimates, and its P/E ratio is 38.56 while for the average stock in the same group, the multiple is 9.33. RTI Surgical Holdings, Inc. current P/B ratio of 1.2 means it is trading at a discount against its industry’s 3.81.