Cerus Corporation (NASDAQ:CERS) shares, rose in value on Wednesday, 05/24/23, with the stock price up by 4.64% to the previous day’s close as strong demand from buyers drove the stock to $2.03.
Actively observing the price movement in the last trading, the stock closed the session at $1.94, falling within a range of $1.905 and $2.04. The value of beta (5-year monthly) was 1.02. Referring to stock’s 52-week performance, its high was $5.95, and the low was $1.76. On the whole, CERS has fluctuated by -16.46% over the past month.
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With the market capitalization of Cerus Corporation currently standing at about $348.98 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 02, 2023 – Aug 07, 2023. 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 -$0.06, which is expected to increase to -$0.04 for fiscal year -$0.22 and then to about -$0.14 by fiscal year 2024. Data indicates that the EPS growth is expected to be 8.30% in 2024, while the next year’s EPS growth is forecast to be 36.40%.
Analysts have estimated the company’s revenue for the quarter at $41.78 million, with a low estimate of $39.5 million and a high estimate of $46.84 million. According to the average forecast, sales growth in current quarter could jump up 1.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $172.56 million, representing an increase of 6.50% 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 CERS’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 CERS currently trading nearly -3.43% and -19.29% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.70, while the 7-day volatility ratio is showing 9.65% which for the 30-day chart, stands at 7.54%. Furthermore, Cerus Corporation (CERS)’s beta value is 1.03, and its average true range (ATR) is 0.15.
A comparison of Cerus Corporation (CERS) with its peers suggests the former has fared considerably weaker in the market. CERS showed an intraday change of 4.64% in last session, and over the past year, it shrunk by -59.80%%. In comparison, Haemonetics Corporation (HAE) has moved higher at 0.79% on the day and was up 36.08% over the past 12 months. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Cerus Corporation (NASDAQ:CERS) indicates that the trading volumes over the past 10 days have averaged 1.64 million and over the past 3 months, they’ve averaged 1.47 million. According to company’s latest data on outstanding shares, there are 178.27 million shares outstanding.
Nearly 0.30% of Cerus Corporation’s shares belong to company insiders and institutional investors own 81.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.31 million shares as on Apr 27, 2023, resulting in a short ratio of 7.24. According to the data, the short interest in Cerus Corporation (CERS) stood at 4.05% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 8.41 million. The stock has fallen by -44.38% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CERS stock heading into the next quarter.