NanoString Technologies, Inc. (NASDAQ:NSTG) is a stock to watch today. At current price of $32.26, the shares have already added 0.94 points (2.99% higher) from its previous close of $31.32. The stock sets an active trading volume day with a reported 156802 contracts so far this session. NSTG shares had a relatively better volume day versus average trading capacity of 360.36 thousand shares, but with a 35.8 million float and a 6.21% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NSTG stock indicates that the average analyst price target is $33.8 per share. This means the stock has a potential increase of 4.77% from where the NSTG share price has been trading recently.
During the recent trading session for NanoString Technologies, Inc. (NASDAQ:NSTG), the company witnessed their stock rise $2.23 over a week and surge $1.16 from the price 20 days ago. When compared to their established 52-week high of $34.78, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/08/19. The recent low of $19.79 stood for a -7.26% since 02/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.28 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 NanoString Technologies, Inc., the two-week RSI stands at 69.59. This figure suggests that NSTG 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 NSTG readings is similarly very revealing as it has a stochastic reading of 90.21% at this stage. This figure means that NSTG share price today is being oversold.
Technical chart claims that NanoString Technologies, Inc. (NSTG) would settle between $31.98/share to $32.65/share level. However, if the stock price goes below the $30.67 mark, then the market for NanoString Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $30.03 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.31. 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, assumed coverage of NSTG assigning Buy rating, according to their opinion released on November 15. UBS, analysts launched coverage of NanoString Technologies, Inc. (NASDAQ:NSTG) stock with a Buy recommendation, according to their flash note issued to investors on October 09. Analysts at Janney lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to October 12.
NSTG equity has an average rating of 1.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 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. 4 analysts rated NanoString Technologies, Inc. (NASDAQ:NSTG) 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.
NanoString Technologies, Inc. (NSTG)’s current-quarter revenues are projected to climb by nearly 14.7% to hit $34.46 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 14.1% from $106730 to a noteworthy $121800. At the other end of the current quarter income statement, NanoString Technologies, Inc. is expected to see its adjusted earnings surge by roughly 14.7% to hit $-0.58 per share. For the fiscal year, NSTG’s earnings are projected to climb by roughly 11.2% to hit $-2.47 per share.