Zai Lab Limited ADR (NASDAQ:ZLAB) shares, rose in value on Friday, November 22, with the stock price up by 2.84% to the previous day’s close as strong demand from buyers drove the stock to $26.43.
Actively observing the price movement in the last trading, the stock closed the session at $25.70, falling within a range of $25.16 and $26.66. Referring to stock’s 52-week performance, its high was $36.60, and the low was $13.48. On the whole, ZLAB has fluctuated by -20.34% over the past month.
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With the market capitalization of Zai Lab Limited ADR currently standing at about $2.86 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 393.19M, with a low estimate of 104.5M and a high estimate of 114.47M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 108.86M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ZLAB’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of ZLAB currently trading nearly -9.24% and -0.63% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.26, while the 7-day volatility ratio is showing 5.63% which for the 30-day chart, stands at 5.05%. Furthermore, Zai Lab Limited ADR (ZLAB)’s beta value is 0.98, and its average true range (ATR) is 1.74.
A comparison of Zai Lab Limited ADR (ZLAB) with its peers suggests the former has fared considerably weaker in the market. ZLAB showed an intraday change of 2.84% in last session, and over the past year, it shrunk by -3.86%%.
Data on historical trading for Zai Lab Limited ADR (NASDAQ:ZLAB) indicates that the trading volumes over the past 10 days have averaged 1.81 and over the past 3 months, they’ve averaged 944.43K. According to company’s latest data on outstanding shares, there are 108.14 million shares outstanding.
Nearly 0.24% of Zai Lab Limited ADR’s shares belong to company insiders and institutional investors own 43.88% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.66 million shares as on 2024-10-31, resulting in a short ratio of 4.97. According to the data, the short interest in Zai Lab Limited ADR (ZLAB) stood at 539.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 4.86 million. The stock has fallen by -3.29% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ZLAB stock heading into the next quarter.
