Proteon Therapeutics, Inc. (NASDAQ:PRTO) is among the top gainers of the stock market today, skyrocketing 3.54% or (0.02 points) to $0.38 from its previous close of $0.36. 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 229052 contracts so far this session. PRTO shares had a relatively better volume day versus average trading capacity of 1.2 million shares, but with a 18.58 million float and a -0.22% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PRTO stock indicates that the average analyst price target is $1 per share. This means the stock has a potential increase of 163.16% from where the PRTO share price has been trading recently which is between $0.3607 and $0.374. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $5.
The shorts are climbing into Proteon Therapeutics, Inc. (PRTO) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in PRTO shares. While short interest still represents only 4.62% of PRTO’s float, the number of shares shorted have risen by 152887. The number of shares shorted advanced to 1012143 shares, up from 859256 shares during the preceding fortnight. With average daily trading volumes at 948146 shares, days to cover increased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Proteon Therapeutics: 1Q Earnings Snapshot” and dated May 08, 2019.
During the recent trading session for Proteon Therapeutics, Inc. (NASDAQ:PRTO), the company witnessed their stock rise $0.02 over a week and tumble down $-0.11 from the price 20 days ago. When compared to their established 52-week high of $3.94, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/13/19. The recent low of $0.35 stood for a -90.42% since 05/14/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.58 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 Proteon Therapeutics, Inc., the two-week RSI stands at 20.54. This figure suggests that PRTO stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current PRTO readings is similarly very revealing as it has a stochastic reading of 25.44% at this stage. This figure means that PRTO share price today is being overbought.
Technical chart claims that Proteon Therapeutics, Inc. (PRTO) would settle between $0.37/share to $0.38/share level. However, if the stock price goes below the $0.36 mark, then the market for Proteon Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.35 for its downside target.
Analysts at JMP Securities raised their recommendation on shares of PRTO from Mkt Perform to Mkt Outperform in their opinion released on February 11. Maxim Group, analysts launched coverage of Proteon Therapeutics, Inc. (NASDAQ:PRTO) stock with a Buy recommendation, according to their flash note issued to investors on October 30. Analysts at H.C. Wainwright lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to March 17.
PRTO equity has an average rating of 3, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 0 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. 0 analysts rated Proteon Therapeutics, Inc. (NASDAQ:PRTO) 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.