MannKind Corporation (NASDAQ:MNKD) shares, rose in value on Thursday, 06/23/22, with the stock price up by 4.46% to the previous day’s close as strong demand from buyers drove the stock to $3.98.
Actively observing the price movement in the last trading, the stock closed the session at $3.81, falling within a range of $3.75 and $3.98. Referring to stock’s 52-week performance, its high was $5.53, and the low was $2.49. On the whole, MNKD has fluctuated by -4.56% over the past month.
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 -$0.09, which is expected to increase to -$0.05 for fiscal year -$0.27 and then to about -$0.08 by fiscal year 2023. Data indicates that the EPS growth is expected to be 15.60% in 2023, while the next year’s EPS growth is forecast to be 70.40%.
Analysts have estimated the company’s revenue for the quarter at $15.35 million, with a low estimate of $11.79 million and a high estimate of $17.2 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $76.56 million, representing an increase of 1.50% from the revenues reported in the last year’s results.
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 MNKD’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 Hold while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MNKD currently trading nearly -3.36% and 9.79% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.27, while the 7-day volatility ratio is showing 7.72% which for the 30-day chart, stands at 8.53%. Furthermore, MannKind Corporation (MNKD)’s beta value is 1.93, and its average true range (ATR) is 0.36.
A comparison of MannKind Corporation (MNKD) with its peers suggests the former has fared considerably weaker in the market. MNKD showed an intraday change of 4.46% in last session, and over the past year, it shrunk by -11.95%%. In comparison, Eli Lilly and Company (LLY) has moved higher at 1.97% on the day and was up 44.04% over the past 12 months. On the other hand, the price of Pfizer Inc. (PFE) has risen 2.08% on the day. The stock, however, is off 28.27% from where it was a year ago. Additionally, there is a gain of 1.02% for Novo Nordisk A/S (NVO) in last trading while the stock has seen an overall depriciation of 32.80%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.95%. Meanwhile, the Dow Jones Industrial Improved by 0.64%.
Data on historical trading for MannKind Corporation (NASDAQ:MNKD) indicates that the trading volumes over the past 10 days have averaged 7.12 million and over the past 3 months, they’ve averaged 5.21 million. According to company’s latest data on outstanding shares, there are 251.89 million shares outstanding.
Nearly 2.70% of MannKind Corporation’s shares belong to company insiders and institutional investors own 46.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.88 million shares as on Apr 28, 2022, resulting in a short ratio of 8.95. According to the data, the short interest in MannKind Corporation (MNKD) stood at 9.45% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 23.45 million. The stock has fallen by -8.92% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MNKD stock heading into the next quarter.