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Tricida Inc. (NASDAQ: TCDA): Getting A Free Pass?

Tricida Inc. (NASDAQ:TCDA) shares, rose in value on Friday, 05/13/22, with the stock price up by 8.55% to the previous day’s close as strong demand from buyers drove the stock to $9.14.

Actively observing the price movement in the last trading, the stock closed the session at $8.42, falling within a range of $8.45 and $9.315. The value of beta (5-year monthly) was 1.04. Referring to stock’s 52-week performance, its high was $12.45, and the low was $3.55. On the whole, TCDA has fluctuated by -1.93% over the past month.

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With the market capitalization of Tricida Inc. currently standing at about $563.48 million, investors are eagerly awaiting this quarter’s results, scheduled for Feb 23, 2022 – Feb 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.68, which is expected to increase to -$0.68 for fiscal year -$3.19 and then to about -$2.37 by fiscal year 2022. Data indicates that the EPS growth is expected to be 39.70% in 2022, while the next year’s EPS growth is forecast to be 25.70%.

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 TCDA’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of TCDA currently trading nearly -5.10% and 1.19% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.44, while the 7-day volatility ratio is showing 12.02% which for the 30-day chart, stands at 10.36%. Furthermore, Tricida Inc. (TCDA)’s beta value is 0.91, and its average true range (ATR) is 0.88.

Data on historical trading for Tricida Inc. (NASDAQ:TCDA) indicates that the trading volumes over the past 10 days have averaged 0.5 million and over the past 3 months, they’ve averaged 402.82K. According to company’s latest data on outstanding shares, there are 54.14 million shares outstanding.

Nearly 1.00% of Tricida Inc.’s shares belong to company insiders and institutional investors own 79.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.23 million shares as on Dec 14, 2021, resulting in a short ratio of 2.57. According to the data, the short interest in Tricida Inc. (TCDA) stood at 2.24% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 1.69 million. The stock has fallen by -4.39% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TCDA stock heading into the next quarter.

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