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Not A Good News For Genelux Corporation (NASDAQ: GNLX): Stock Could Even Fall -76.91%

Genelux Corporation (NASDAQ:GNLX) price closed higher on Friday, September 15, jumping 2.40% above its previous close.

A look at the daily price movement shows that the last close reads $22.08, with intraday deals fluctuated between $20.87 and $22.82. Taking into account the 52-week price action we note that the stock hit a 52-week high of $40.98 and 52-week low of $5.35. The stock subtracted -5.40% on its value in the past month.

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Genelux Corporation, which has a market valuation of $578.14 million. Analysts tracking GNLX have forecast the quarterly EPS to shrink by -0.18 per share this quarter, while the same analysts predict the annual EPS to hit -$1.07 for the year 2023 and up to -$0.84 for 2024. In this case, analysts estimate an annual EPS growth of -87.70% for the year and 21.50% for the next year.

Staying with the analyst view, there is a consensus estimate of $170k for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -98.50% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 3 analysts have assigned GNLX a recommendation rating as follows: 1 rate it as a Hold; 2 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Genelux Corporation (GNLX) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that GNLX’s price is at present -3.92% off the SMA20 and -9.89% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 45.87, with weekly volatility standing at 10.84%. The indicator jumps to 11.10% when calculated based on the past 30 days. Genelux Corporation (NASDAQ:GNLX)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 2.45. Considering analysts have assigned the stock a price target range of $25.00-$40.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $34.33. Based on this estimate, we see that current price is roughly -10.57% off the estimated low and -76.91% off the forecast high. Investors will no doubt be excited to see the share price fall to $38.00, which is the median consensus price, and at that level GNLX would be -68.07% from current price.

An analysis of the Genelux Corporation (NASDAQ:GNLX) stock in terms of its daily trading volume indicates that the 3-month average is 108.61K. However, this figure increases on the past 10-day timeline to an average of 0.54 million.

Current records show that the company has 25.07M in outstanding shares. The insiders’ percentage holdings are 25.37% of outstanding shares while the percentage share held by institutions stands at 1.28%. The stats also highlight that short interest as of Aug 30, 2023, stood at 0.17 million shares, which puts the short ratio at the time at 1.61. From this we can glean that short interest is 0.64% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 0.16 million. But the 267.64% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.