The trading price of Fortress Biotech Inc (NASDAQ:FBIO) floating lower at last check on current market day and closing at $2.02, -14.41% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $1.891 and $2.36. In examining the 52-week price action we see that the stock hit a 52-week high of $4.43 and a 52-week low of $1.36. Over the past month, the stock has gained 10.38% in value.
Fortress Biotech Inc, whose market valuation is $63.88 million at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.75 per share this quarter, however they have predicted annual earnings per share of -3.28 for current year and -0.87 for next year.
Analysts have forecast the company to bring in revenue of 15.58M for the current quarter, with the likely lows of 14.3M and highs of 16.85M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 58.13M.
On the technical side, indicators suggest FBIO has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 75% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
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 FBIO a recommendation rating is 3. Out of them, 0 rate it a Hold, while 2 recommend Buy, whereas 0 assign an Overweight rating. 1 analyst(s) have tagged Fortress Biotech Inc (FBIO) 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 FBIO’s price is currently 0.94% off the SMA20 and 8.98% off the SMA50. The RSI metric on the 14-day chart is currently showing 53.45, and weekly volatility stands at 8.70%. When measured over the past 30 days, the indicator reaches 8.56%. Fortress Biotech Inc (NASDAQ:FBIO)’s beta value is currently sitting at 1.66, while the Average True Range indicator is currently displaying 0.18.
To see how Fortress Biotech Inc stock has been performing today in comparison to its peers in the industry, here are the numbers: FBIO stock’s performance was -14.41% at last check in today’s session, and -48.07% in the past year.
An evaluation of the daily trading volume of Fortress Biotech Inc (NASDAQ:FBIO) indicates that the 3-month average is 630.39K. However, this figure has increased over the past 10 days to an average of 0.66.
Currently, records show that 27.58 million of the company’s shares remain outstanding. The insiders hold 24.17% of outstanding shares, whereasinstitutions hold 16.11%. The stats also highlight that short interest as of 2024-10-31, stood at 2.62 million shares, resulting in a short ratio of 4.57 at that time. From this, we can conclude that short interest is 1150.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 2.35 million. However, since the stock’s price has seen -32.89% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
