The trading price of Edesa Biotech Inc. (NASDAQ:EDSA) floating higher at last check on Monday, September 20, closing at $8.20, 39.43% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $5.56 and $6.10. In examining the 52-week price action we see that the stock hit a 52-week high of $10.13 and a 52-week low of $4.05. Over the past month, the stock has gained 33.33% in value.
Edesa Biotech Inc., whose market valuation is $74.03 million at the time of this writing, is expected to release its quarterly earnings report Dec 06, 2021 – Dec 10, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.34 per share this quarter, however they have predicted annual earnings per share of -$1.17 for 2021 and -$1.33 for 2022. It means analysts are expecting annual earnings per share growth of -58.10% this year and -13.70% next year.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Edesa Biotech Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest EDSA has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned EDSA a recommendation rating is 1. Out of them, 0 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Edesa Biotech Inc. (EDSA) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that EDSA’s price is currently 51.95% off the SMA20 and 61.42% off the SMA50. The RSI metric on the 14-day chart is currently showing 82.34, and weekly volatility stands at 5.56%. When measured over the past 30 days, the indicator reaches 6.12%. Edesa Biotech Inc. (NASDAQ:EDSA)’s beta value is currently sitting at 0.70, while the Average True Range indicator is currently displaying 0.31. With analysts defining $18.00-$18.00 as the low and high price targets, we arrive at a consensus price target of $18.00 for the trailing 12-month period. The current price is about -119.51% off the estimated low and -119.51% off the forecast high, based on this estimate. Investors will be thrilled if EDSA’s share price rises to $18.00, which is the median consensus price. At that level, EDSA’s share price would be -119.51% below current price.
To see how Edesa Biotech Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: EDSA stock’s performance was 39.43% at last check in today’s session, and -20.33% in the past year. Edesa Biotech Inc. has a P/E ratio of 0. Also during today’s trading, the S&P 500 Index has plunged -1.64%, while the Dow Jones Industrial also saw a negative session, down -1.52% today.
An evaluation of the daily trading volume of Edesa Biotech Inc. (NASDAQ:EDSA) indicates that the 3-month average is 105.16K. However, this figure has increased over the past 10 days to an average of 76200.0.
Currently, records show that 13.25 million of the company’s shares remain outstanding. The insiders hold 4.20% of outstanding shares, whereas institutions hold 15.50%. The stats also highlight that short interest as of May 27, 2021, stood at 52630.0 shares, resulting in a short ratio of 0.2 at that time. From this, we can conclude that short interest is 0.40% of the company’s total outstanding shares. It is noteworthy that short shares in May were down slightly from the previous month’s figure, which was 54060.0. However, since the stock’s price has seen 38.35% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.