QuickLogic Corporation (NASDAQ:QUIK) is one of the worst performers on the stock market today. At current price of $5.96, the shares have already lost -0.91 points (-13.19% lower) from its previous close of $6.87. Should you buy or avoid them? The stock sets an active trading volume day with a reported 103232 contracts so far this session. QUIK shares had a relatively better volume day versus average trading capacity of 82.86 million shares, but with a 8.22 million float and a -3.51% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for QUIK stock indicates that the average analyst price target is $11.5 per share. This means the stock has a potential increase of 92.95% from where the QUIK share price has been trading recently.
During the recent trading session for QuickLogic Corporation (NASDAQ:QUIK), the company witnessed their stock drop by $-0.8 over a week and tumble down $-1.77 from the price 20 days ago. When compared to their established 52-week high of $13.86, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/14/19. The recent low of $2.81 stood for a -59.81% since 11/15/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.72 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 QuickLogic Corporation, the two-week RSI stands at 43.92. This figure suggests that QUIK 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 QUIK readings is similarly very revealing as it has a stochastic reading of 51.56% at this stage. This figure means that QUIK share price today is being neutral.
Technical chart claims that QuickLogic Corporation (QUIK) would settle between $6.95/share to $7.04/share level. However, if the stock price goes below the $6.73 mark, then the market for QuickLogic Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $6.59 for its downside target. The stock is currently in the red 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 Oppenheimer, assumed coverage of QUIK assigning Outperform rating, according to their opinion released on August 15. ROTH Capital analysts again handed out a Buy recommendation to QuickLogic Corporation (NASDAQ:QUIK) stock but they lifted target price for the shares in a flash note issued to investors on January 19. The target price has been raised from $2 to $2.50. Analysts at ROTH Capital released an upgrade from Neutral to Buy for the stock, in a research note that dated back to September 11.
QUIK equity has an average rating of 2, 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 QuickLogic Corporation (NASDAQ:QUIK) 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, QUIK stock price is currently trading at 62.45X 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 28.4. QuickLogic Corporation current P/B ratio of 3.5 means it is trading at a discount against its industry’s 5.2.