The trading price of Ensysce Biosciences Inc (NASDAQ:ENSC) closed higher on Tuesday, October 29, and closing at $0.41, 24.70% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.3245 and $0.4659. In examining the 52-week price action we see that the stock hit a 52-week high of $2.06 and a 52-week low of $0.14. Over the past month, the stock has gained 72.92% in value.
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Ensysce Biosciences Inc, whose market valuation is $6.19 million at the time of this writing, is expected to release its quarterly earnings report on 2024-Nov-07. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.29 per share this quarter, however they have predicted annual earnings per share of -1.43 for current year and -0.91 for next year.
Analysts have forecast the company to bring in revenue of 250k for the current quarter, with the likely lows of 200k and highs of 300k. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 1.05M.
On the technical side, indicators suggest ENSC has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ENSC a recommendation rating is 1. Out of them, 0 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Ensysce Biosciences Inc (ENSC) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that ENSC’s price is currently 63.65% off the SMA20 and 29.61% off the SMA50. The RSI metric on the 14-day chart is currently showing 59.95, and weekly volatility stands at 25.33%. When measured over the past 30 days, the indicator reaches 19.58%. Ensysce Biosciences Inc (NASDAQ:ENSC)’s beta value is currently sitting at 0.84, while the Average True Range indicator is currently displaying 0.08.
To see how Ensysce Biosciences Inc stock has been performing in comparison to its peers in the industry, here are the numbers: ENSC stock’s performance was 24.70% in the latest trading, and -59.31% in the past year.
An evaluation of the daily trading volume of Ensysce Biosciences Inc (NASDAQ:ENSC) indicates that the 3-month average is 13.96 million. However, this figure has increased over the past 10 days to an average of 81.66.
Currently, records show that 14.91 million of the company’s shares remain outstanding. The insiders hold 2.64% of outstanding shares, whereas institutions hold 3.35%. The stats also highlight that short interest as of 2024-10-15, stood at 0.11 million shares, resulting in a short ratio of 0.31 at that time. From this, we can conclude that short interest is 83.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 0.2 million. However, since the stock’s price has seen -60.85% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
