ADOMANI, Inc. (NASDAQ:ADOM) is among the top losers of the stock market today, sinking -2.89% or (-0.01 points) to $0.37 from its previous close of $0.38. 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 465396 contracts so far this session. ADOM shares had a relatively better volume day versus average trading capacity of 919.2 thousand shares, but with a 55.1 million float and a -4.37% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ADOM stock indicates that the average analyst price target is $1.58 per share. This means the stock has a potential increase of 327.03% from where the ADOM share price has been trading recently which is between $0.3525 and $0.3895. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $0.35.
The shorts are running away from ADOMANI, Inc. (ADOM) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in ADOM shares. While short interest still represents only 1.96% of ADOM’s float, the number of shares shorted have fallen by -189358. The number of shares shorted fell to 888939 shares, down from 1078297 shares during the preceding fortnight. With average daily trading volumes at 1342198 shares, days to cover decreased to about 1.863612 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “ADOMANI(R) Receives First Order For All-Electric Cargo Vans from Santa Clara County” and dated May 14, 2019.
During the recent trading session for ADOMANI, Inc. (NASDAQ:ADOM), the company witnessed their stock rise $unch over a week and surge $unch from the price 20 days ago. When compared to their established 52-week high of $1.97, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/21/18. The recent low of $0.16 stood for a -81.24% 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 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 ADOMANI, Inc., the two-week RSI stands at 50.46. This figure suggests that ADOM 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 ADOM readings is similarly very revealing as it has a stochastic reading of 38.35% at this stage. This figure means that ADOM share price today is being neutral.
Technical chart claims that ADOMANI, Inc. (ADOM) would settle between $0.4/share to $0.41/share level. However, if the stock price goes below the $0.36 mark, then the market for ADOMANI, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.34 for its downside target.
Analysts at ROTH Capital, assumed coverage of ADOM assigning Buy rating, according to their opinion released on November 01.
ADOM equity has an average rating of 2.33, 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 ADOMANI, Inc. (NASDAQ:ADOM) 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, ADOM stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.58 while for the average stock in the same group, the multiple is 1.52.
ADOMANI, Inc. (ADOM)’s current-quarter revenues are projected to climb by nearly 125.68% to hit $1.67 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 68.43% from $5.01 million to a noteworthy $8.44 million. At the other end of the current quarter income statement, ADOMANI, Inc. is expected to see its adjusted earnings surge by roughly 50% to hit $-0.03 per share. For the fiscal year, ADOM’s earnings are projected to climb by roughly 40% to hit $-0.09 per share.