What just happened? Obalon Therapeutics, Inc. (NASDAQ:OBLN) stock value has climbed by nearly 3.83% or (0.07 points) to $1.9 from its previous close of $1.83. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 172665 contracts so far this session. OBLN shares had a relatively better volume day versus average trading capacity of 418.67 thousand shares, but with a 7.38 million float and a -2.14% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OBLN stock indicates that the average analyst price target is $14 per share. This means the stock has a potential increase of 636.84% from where the OBLN share price has been trading recently.
During the recent trading session for Obalon Therapeutics, Inc. (NASDAQ:OBLN), the company witnessed their stock rise $0.07 over a week and tumble down $-0.03 from the price 20 days ago. When compared to their established 52-week high of $23.3, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/22/19. The recent low of $1.52 stood for a -91.84% since 11/11/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less 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 Obalon Therapeutics, Inc., the two-week RSI stands at 57.23. This figure suggests that OBLN 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 OBLN readings is similarly very revealing as it has a stochastic reading of 35.34% at this stage. This figure means that OBLN share price today is being neutral.
Technical chart claims that Obalon Therapeutics, Inc. (OBLN) would settle between $1.87/share to $1.9/share level. However, if the stock price goes below the $1.8 mark, then the market for Obalon Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.76 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 Stifel raised their recommendation on shares of OBLN from Hold to Buy in their opinion released on February 25. Stifel analysts again handed out a Hold recommendation to Obalon Therapeutics, Inc. (NASDAQ:OBLN) stock but they lifted target price for the shares in a flash note issued to investors on August 03. The target price has been raised from $3 to $2.
OBLN equity has an average rating of 2.5, 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 Obalon Therapeutics, Inc. (NASDAQ:OBLN) 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, OBLN stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 52. Obalon Therapeutics, Inc. current P/B ratio of 0.7 means it is trading at a discount against its industry’s 4.7.
Obalon Therapeutics, Inc. (OBLN)’s current-quarter revenues are projected to climb by nearly -40.6% to hit $1.21 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -59.2% from $9.1 million to a noteworthy $3.71 million. At the other end of the current quarter income statement, Obalon Therapeutics, Inc. is expected to see its adjusted earnings surge by roughly 77.2% to hit $-0.89 per share. For the fiscal year, OBLN’s earnings are projected to climb by roughly 83.9% to hit $-3.15 per share.