Absci Corporation (NASDAQ:ABSI) shares, rose in value on Thursday, 05/25/23, with the stock price down by -0.62% to the previous day’s close as strong demand from buyers drove the stock to $1.61.
Actively observing the price movement in the last trading, the stock closed the session at $1.62, falling within a range of $1.57 and $1.96. Referring to stock’s 52-week performance, its high was $7.04, and the low was $1.13. On the whole, ABSI has fluctuated by 11.03% over the past month.
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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 -$0.24, which is expected to increase to -$0.22 for fiscal year -$0.95 and then to about -$0.71 by fiscal year 2024. Data indicates that the EPS growth is expected to be 17.40% in 2024, while the next year’s EPS growth is forecast to be 25.30%.
Analysts have estimated the company’s revenue for the quarter at $2.67 million, with a low estimate of $1.8 million and a high estimate of $3.2 million. According to the average forecast, sales growth in current quarter could jump up 166.50%, 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 $12.26 million, representing an increase of 113.30% 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 ABSI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% 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 ABSI currently trading nearly 19.13% and 2.93% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.65, while the 7-day volatility ratio is showing 21.24% which for the 30-day chart, stands at 13.43%. Furthermore, Absci Corporation (ABSI)’s average true range (ATR) is 0.19.
A comparison of Absci Corporation (ABSI) with its peers suggests the former has fared considerably weaker in the market. ABSI showed an intraday change of -0.62% in last session, and over the past year, it shrunk by -53.47%%. On the other hand, the price of Ginkgo Bioworks Holdings Inc. (DNA) has fallen -5.56% on the day. The stock, however, is off -40.70% from where it was a year ago. Additionally, there is a loss of -4.07% for Schrodinger Inc. (SDGR) in last trading while the stock has seen an overall depriciation of 47.86%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.88%. Meanwhile, the Dow Jones Industrial Slipped by -0.11%.
Data on historical trading for Absci Corporation (NASDAQ:ABSI) indicates that the trading volumes over the past 10 days have averaged 0.88 million and over the past 3 months, they’ve averaged 438.28K. According to company’s latest data on outstanding shares, there are 91.48 million shares outstanding.
Nearly 0.70% of Absci Corporation’s shares belong to company insiders and institutional investors own 48.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.31 million shares as on Apr 27, 2023, resulting in a short ratio of 14.18. According to the data, the short interest in Absci Corporation (ABSI) stood at 4.66% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 4.36 million. The stock has fallen by -23.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ABSI stock heading into the next quarter.