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Are Investors Interested In Selling Their Holdings Of Allarity Therapeutics Inc. (NASDAQ: ALLR)?

Allarity Therapeutics Inc. (NASDAQ:ALLR) traded at $0.29 at close of the session on Monday, 01/23/23, made an upward move of 15.84% on its previous day’s price.

Looking at the stock we see that its previous close was $0.25 with the day’s price range being $0.28 – $0.4699. In terms of its 52-week price range, ALLR has a high of $9.67 and a low of $0.20. The company’s stock has gained about 7.22% over that past 30 days.

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Allarity Therapeutics Inc. has a market cap of $4.63 million. Estimates by analysts give the company expected earnings per share (EPS) of -$0.25, with the EPS growth for the year raised at -$1.5 for 2022 and -$0.73 for next year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ALLR stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Allarity Therapeutics Inc. (ALLR) stock as a Hold, while 0 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 21.36% off its SMA20 and -16.61% from its 50-day simple moving average. The RSI (14) is pointing at 51.79 while the volatility over the past week is 27.73% and jumps to 23.13% over the past one month. The average price target for the stock over the next 12 months is $8.00, with the estimates having a low of $8.00 and a high of $8.00. These price ends are -2658.62% and -2658.62% off the current price level respectively, although investors could be excited at the prospect of a -2658.62% if the ALLR share price touches on the median price of $8.00.

Coming back to Allarity Therapeutics Inc. (NASDAQ:ALLR), we note that the average 3-month trading volume was 1.02 million, while that of the preceding 10-day period stands at 1.29 million. Current shares outstanding are 9.87 million.

The insiders hold 10.04% of the company’s shares while institutions hold 1.70%. The data shows that short shares as of Oct 13, 2022, stood at 18670.0 at a short ratio of 0.27. This represents a 0.18% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 0.12 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 0.07% up in year-to-date price movement.

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