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BYND Cannasoft Enterprises Inc. (BCAN): Significant Improvements, Worth Being Considered

BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) at last check was buoying at $3.44 on Thursday, September 22, with a fall of -22.00% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $4.41 with its price kept floating in the range of $4.26 and $5.46 on the day. Company’s P/E ratio for the trailing 12 months is 147.00. Considering stock’s 52-week price range provides that BCAN hit a high price of $16.38 and saw its price falling to a low level of $4.04 during that period. Over a period of past 1-month, stock came subtracting -7.48% in its value.

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In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement.

Digging deeper we become aware of the PEG ratio of the BCAN stock which is currently positioned at 0. It further provides that stock’s current price level is -25.60% away from its 20-day simple moving average and is -27.18% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 36.77 while volatility remained at 59.62% over the past week which changes to 18.01% when measuring it over the past month. Average true range or ATR is currently at 1.26.

Having a second look at BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) provides that stock’s average daily trading volume for 3 months was 507.38K, while it jumped to 2.93 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 29.68 million.

The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 7670.0 which implies a short ratio of 2.92. This shows down a 0.03% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 13940.0 in the previous month. Subtraction of -18.63% by stock’s current price to its year-to-date value in today’s trading is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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