Avedro, Inc. (NASDAQ:AVDR) is among the top gainers of the stock market today, skyrocketing 7.52% or (1.35 points) to $19.3 from its previous close of $17.95. 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 99996 contracts so far this session. AVDR shares had a relatively better volume day versus average trading capacity of 116.09 thousand shares, but with a 0 million float and a 42.12% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AVDR stock indicates that the average analyst price target is $19.75 per share. This means the stock has a potential increase of 2.33% from where the AVDR share price has been trading recently which is between $17.01 and $18.25. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $16.
The shorts are running away from Avedro, Inc. (AVDR) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in AVDR shares. While short interest still represents only 0% of AVDR’s float, the number of shares shorted have fallen by -52212. The number of shares shorted fell to 133286 shares, down from 185498 shares during the preceding fortnight. With average daily trading volumes at 59086 shares, days to cover decreased to about 3.207421 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Avedro, Inc. (AVDR) Q1 2019 Earnings Call Transcript” and dated May 13, 2019.
Looking at the current readings for Avedro, Inc., the two-week RSI stands at 80.87. This figure suggests that AVDR stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current AVDR readings is similarly very revealing as it has a stochastic reading of 92.65% at this stage. This figure means that AVDR share price today is being oversold.
Technical chart claims that Avedro, Inc. (AVDR) would settle between $18.46/share to $18.98/share level. However, if the stock price goes below the $17.22 mark, then the market for Avedro, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.5 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.54. 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 SVB Leerink, assumed coverage of AVDR assigning Outperform rating, according to their opinion released on March 11. JP Morgan, analysts launched coverage of Avedro, Inc. (NASDAQ:AVDR) stock with a Overweight recommendation, according to their flash note issued to investors on March 11. Analysts at Guggenheim, made their first call for the equity with a Buy recommendation, according to a research note that dated back to March 11.
AVDR equity has an average rating of 1.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 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. 5 analysts rated Avedro, Inc. (NASDAQ:AVDR) 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.