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Are NRx Pharmaceuticals Inc. (NASDAQ: NRXP) Analysts Predicting A Spike?

NRx Pharmaceuticals Inc. (NASDAQ:NRXP) shares, rose in value on Friday, 05/13/22, with the stock price up by 8.20% to the previous day’s close as strong demand from buyers drove the stock to $1.32.

Actively observing the price movement in the last trading, the stock closed the session at $1.22, falling within a range of $1.22 and $1.34. The value of beta (5-year monthly) was 0.36. Referring to stock’s 52-week performance, its high was $48.80, and the low was $1.15. On the whole, NRXP has fluctuated by -42.61% over the past month.

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With the market capitalization of NRx Pharmaceuticals Inc. currently standing at about $97.90 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 16, 2021.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NRXP’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NRXP currently trading nearly -21.96% and -42.75% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.90, while the 7-day volatility ratio is showing 12.92% which for the 30-day chart, stands at 11.20%. Furthermore, NRx Pharmaceuticals Inc. (NRXP)’s beta value is 0.67, and its average true range (ATR) is 0.17.

Data on historical trading for NRx Pharmaceuticals Inc. (NASDAQ:NRXP) indicates that the trading volumes over the past 10 days have averaged 0.5 million and over the past 3 months, they’ve averaged 664.99K. According to company’s latest data on outstanding shares, there are 57.80 million shares outstanding.

Nearly 59.40% of NRx Pharmaceuticals Inc.’s shares belong to company insiders and institutional investors own 14.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.6 million shares as on Dec 14, 2021, resulting in a short ratio of 0.26. According to the data, the short interest in NRx Pharmaceuticals Inc. (NRXP) stood at 2.71% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 1.18 million. The stock has fallen by -72.38% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NRXP stock heading into the next quarter.

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