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.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Sponsored
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.
