iRhythm Technologies, Inc. (NASDAQ:IRTC) is a stock to watch today. At current price of $65.82, the shares have already added 2.37 points (3.74% higher) from its previous close of $63.45. The stock sets an active trading volume day with a reported 130834 contracts so far this session. IRTC shares had a relatively better volume day versus average trading capacity of 321.59 thousand shares, but with a 26.23 million float and a -10.91% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for IRTC stock indicates that the average analyst price target is $101.29 per share. This means the stock has a potential increase of 53.89% from where the IRTC share price has been trading recently which is between $62.46 and $63.91.
During the recent trading session for iRhythm Technologies, Inc. (NASDAQ:IRTC), the company witnessed their stock drop by $-3.75 over a week and tumble down $-12.89 from the price 20 days ago. When compared to their established 52-week high of $98.13, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/27/19. The recent low of $58.99 stood for a -32.92% 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 iRhythm Technologies, Inc., the two-week RSI stands at 37.6. This figure suggests that IRTC 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 IRTC readings is similarly very revealing as it has a stochastic reading of 8.31% at this stage. This figure means that IRTC share price today is being overbought.
Technical chart claims that iRhythm Technologies, Inc. (IRTC) would settle between $64.09/share to $64.72/share level. However, if the stock price goes below the $62.64 mark, then the market for iRhythm Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $61.82 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -2.8. 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 Chardan Capital Markets lowered their recommendation on shares of IRTC from Buy to Neutral in their opinion released on February 20. Canaccord Genuity analysts again handed out a Buy recommendation to iRhythm Technologies, Inc. (NASDAQ:IRTC) stock but they lifted target price for the shares in a flash note issued to investors on September 13. The target price has been raised from $93 to $100. Analysts at Chardan Capital Markets, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 06.
IRTC equity has an average rating of 2.63, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 2 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 iRhythm Technologies, Inc. (NASDAQ:IRTC) 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, IRTC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 58.2. iRhythm Technologies, Inc. current P/B ratio of 34.5 means it is trading at a premium against its industry’s 3.8.