Check-Cap Ltd. (NASDAQ:CHEK) is one of the stocks that are grabbing investor focus today: skyrocketing 9.31% or (0.23 points) to $2.7 from its previous close of $2.47. 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 216519 contracts so far this session. CHEK shares had a relatively better volume day versus average trading capacity of 216.97 thousand shares, but with a 6.76 million float and a 3.78% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CHEK stock indicates that the average analyst price target is $10.5 per share. This means the stock has a potential increase of 288.89% from where the CHEK share price has been trading recently which is between $2.39 and $2.6. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.
The shorts are running away from Check-Cap Ltd. (CHEK) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in CHEK shares. While short interest still represents only 7.81% of CHEK’s float, the number of shares shorted have fallen by -137064. The number of shares shorted fell to 390750 shares, down from 527814 shares during the preceding fortnight. With average daily trading volumes at 64967 shares, days to cover increased to about 4.606189 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Check-Cap to Present Data at Digestive Disease Week® Demonstrating Substantial Improvement in Precancerous Polyp Detection” and dated May 16, 2019.
During the recent trading session for Check-Cap Ltd. (NASDAQ:CHEK), the company witnessed their stock rise $0.45 over a week and surge $0.21 from the price 20 days ago. When compared to their established 52-week high of $5.2, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/22/18. The recent low of $1.62 stood for a -50.28% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.31 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 Check-Cap Ltd., the two-week RSI stands at 58.4. This figure suggests that CHEK 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 CHEK readings is similarly very revealing as it has a stochastic reading of 62.23% at this stage. This figure means that CHEK share price today is being neutral.
Technical chart claims that Check-Cap Ltd. (CHEK) would settle between $2.58/share to $2.7/share level. However, if the stock price goes below the $2.37 mark, then the market for Check-Cap Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $2.28 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 H.C. Wainwright lifted target price for shares of CHEK but were stick to Buy recommendation for the stock in their opinion released on January 11. The price target has been raised from $5.50 to $6. H.C. Wainwright analysts again handed out a Buy recommendation to Check-Cap Ltd. (NASDAQ:CHEK) stock but they lifted target price for the shares in a flash note issued to investors on November 28. The target price has been raised from $7 to $5.50. Analysts at H.C. Wainwright are sticking to their Buy stance. However, on September 28, they lifted price target for these shares to $7 from $6.
CHEK equity has an average rating of 2, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 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 Check-Cap Ltd. (NASDAQ:CHEK) 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.