Organovo Holdings, Inc. (NASDAQ:ONVO) is one of the stocks that are grabbing investor focus today: sinking -2.52% or (-0.01 points) to $0.32 from its previous close of $0.33. 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 135290 contracts so far this session. ONVO shares had a relatively better volume day versus average trading capacity of 706.24 thousand shares, but with a 0.13 billion float and a 1.65% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ONVO stock indicates that the average analyst price target is $3 per share. This means the stock has a potential increase of 837.5% from where the ONVO share price has been trading recently.
During the recent trading session for Organovo Holdings, Inc. (NASDAQ:ONVO), the company witnessed their stock rise $unch over a week and tumble down $-0.14 from the price 20 days ago. When compared to their established 52-week high of $1.18, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/25/19. The recent low of $0.22 stood for a -72.5% since 07/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.28 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 Organovo Holdings, Inc., the two-week RSI stands at 34.33. This figure suggests that ONVO 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 ONVO readings is similarly very revealing as it has a stochastic reading of 50.57% at this stage. This figure means that ONVO share price today is being neutral.
Technical chart claims that Organovo Holdings, Inc. (ONVO) would settle between $0.35/share to $0.36/share level. However, if the stock price goes below the $0.32 mark, then the market for Organovo Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.31 for its downside target.
Analysts at H.C. Wainwright, assumed coverage of ONVO assigning Buy rating, according to their opinion released on December 13. Raymond James analysts have lowered their rating of Organovo Holdings, Inc. (NASDAQ:ONVO) stock from Outperform to Mkt Perform in a separate flash note issued to investors on November 10. Analysts at Raymond James, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to January 25.
Moving on, ONVO 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 49.6. Organovo Holdings, Inc. current P/B ratio of 1.5 means it is trading at a discount against its industry’s 5.