Axcelis Technologies, Inc. (NASDAQ:ACLS) is among the top gainers of the stock market today, skyrocketing 5.01% or (0.86 points) to $18.01 from its previous close of $17.15. 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 101100 contracts so far this session. ACLS shares had a relatively better volume day versus average trading capacity of 230.14 thousand shares, but with a 31.47 million float and a 2.27% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ACLS stock indicates that the average analyst price target is $21.6 per share. This means the stock has a potential increase of 19.93% from where the ACLS share price has been trading recently which is between $17.055 and $17.33.
During the recent trading session for Axcelis Technologies, Inc. (NASDAQ:ACLS), the company witnessed their stock rise $0.69 over a week and tumble down $-0.38 from the price 20 days ago. When compared to their established 52-week high of $22.99, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/02/19. The recent low of $13.99 stood for a -21.66% since 06/25/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.28 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 Axcelis Technologies, Inc., the two-week RSI stands at 59.44. This figure suggests that ACLS 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 ACLS readings is similarly very revealing as it has a stochastic reading of 47.09% at this stage. This figure means that ACLS share price today is being neutral.
Technical chart claims that Axcelis Technologies, Inc. (ACLS) would settle between $17.3/share to $17.45/share level. However, if the stock price goes below the $17.03 mark, then the market for Axcelis Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.9 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.32. 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 Northland Capital lowered their recommendation on shares of ACLS from Outperform to Market Perform in their opinion released on May 08. The Benchmark Company analysts bumped their rating on Axcelis Technologies, Inc. (NASDAQ:ACLS) stock from Hold to Buy in a separate flash note issued to investors on February 08. Analysts at B. Riley FBR released an upgrade from Neutral to Buy for the stock, in a research note that dated back to January 28.
ACLS equity has an average rating of 2.88, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 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. 3 analysts rated Axcelis Technologies, Inc. (NASDAQ:ACLS) 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, ACLS stock price is currently trading at 17.25X forward 12-month Consensus EPS estimates, and its P/E ratio is 24.5 while for the average stock in the same group, the multiple is 26.1. Axcelis Technologies, Inc. current P/B ratio of 1.4 means it is trading at a discount against its industry’s 6.4.