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Is Abcam ADR (NASDAQ: ABCM) Still On Fire This Week?

Abcam ADR (NASDAQ:ABCM) price is hovering lower on Monday, November 20, dropping -0.02% below its previous close.

A look at today’s price movement shows that the recent level at last check reads $23.93, with intraday deals fluctuating between $23.91 and $23.93. The company’s 5Y monthly beta was ticking 0.89 while its P/E ratio in the trailing 12-month period read 1467.79. Taking into account the 52-week price action we note that the stock hit a 52-week high of $25.32 and 52-week low of $12.48. The stock added 5.77% on its value in the past month.

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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. On the technical perspective front, indicators give ABCM a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.

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, 5 analysts have assigned ABCM a recommendation rating as follows: 5 rate it as a Hold; 0 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Abcam ADR (ABCM) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 4193.69. The overview shows that ABCM’s price is at present 3.53% off the SMA20 and 4.60% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 72.14, with weekly volatility standing at 0.56%. The indicator jumps to 0.70% when calculated based on the past 30 days. Abcam ADR (NASDAQ:ABCM)’s beta value is holding at 0.87, while the average true range (ATR) indicator is currently reading 0.22. Considering analysts have assigned the stock a price target range of $19.02-$19.81 as the low and high respectively, we find the trailing 12-month average consensus price target to be $19.32. Based on this estimate, we see that today’s price at last check is roughly 20.48% off the estimated low and 17.18% off the forecast high. Investors will no doubt be excited to see the share price rise to $19.23, which is the median consensus price, and at that level ABCM would be 19.61% from recent price.

An analysis of the Abcam ADR (NASDAQ:ABCM) stock in terms of its daily trading volume indicates that the 3-month average is 7.18 million. However, this figure increases on the past 10-day timeline to an average of 9.48 million.

Current records show that the company has 229.04M in outstanding shares. The percentage share held by institutions stands at 93.64%. The stats also highlight that short interest as of Oct 30, 2023, stood at 4.08 million shares, which puts the short ratio at the time at 0.54. From this we can glean that short interest is 1.77% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 2.24 million. But the 53.76% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.