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What’s Up With Scilex Holding Company (NASDAQ:SCLX)?

Scilex Holding Company (NASDAQ:SCLX) price closed higher on Monday, November 20, jumping 2.80% above its previous close.

A look at the daily price movement shows that the last close reads $1.07, with intraday deals fluctuated between $1.07 and $1.14. The company’s 5Y monthly beta was ticking 0.69. Taking into account the 52-week price action we note that the stock hit a 52-week high of $16.90 and 52-week low of $1.06. The stock subtracted -32.93% on its value in the past month.

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Scilex Holding Company, which has a market valuation of $171.53 million. Analysts tracking SCLX have forecast the quarterly EPS to shrink by -0.21 per share this quarter, while the same analysts predict the annual EPS to hit -$0.94 for the year 2023 and up to -$0.64 for 2024.

On average, analysts have forecast the company’s revenue for the quarter will hit $12.36 million, with the likely lows of $10.32 million and highs of $16.25 million. Staying with the analyst view, there is a consensus estimate of $46.7 million for the company’s annual revenue 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. On the technical perspective front, indicators give SCLX a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that SCLX’s price is at present -29.28% off the SMA20 and -35.15% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 28.97, with weekly volatility standing at 10.76%. The indicator jumps to 11.05% when calculated based on the past 30 days. Scilex Holding Company (NASDAQ:SCLX)’s beta value is holding at 0.31, while the average true range (ATR) indicator is currently reading 0.17.

An analysis of the Scilex Holding Company (NASDAQ:SCLX) stock in terms of its daily trading volume indicates that the 3-month average is 891.16K. However, this figure increases on the past 10-day timeline to an average of 1.03 million.

Current records show that the company has 141.35M in outstanding shares. The insiders’ percentage holdings are 42.47% of outstanding shares while the percentage share held by institutions stands at 18.46%. The stats also highlight that short interest as of Oct 30, 2023, stood at 4.88 million shares, which puts the short ratio at the time at 5.7. From this we can glean that short interest is 3.16% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 3.28 million. But the -72.43% downside, 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.