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Confluent Inc (NASDAQ: CFLT) Shares Rose Recently, But Trouble Could Still Be Around The Corner.

Confluent Inc (NASDAQ:CFLT) price is hovering lower on Tuesday, February 13, dropping -1.13% below its previous close.

A look at today’s price movement shows that the recent level at last check reads $31.52. 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 $41.22 and 52-week low of $14.69. The stock added 39.69% on its value in the past month.

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Confluent Inc, which has a market valuation of $9.60 billion, is expected to release its quarterly earnings report May 01, 2024 – May 06, 2024.

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 CFLT a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that CFLT’s price is at present 28.88% off the SMA20 and 31.82% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 73.97, with weekly volatility standing at 6.54%. The indicator jumps to 4.87% when calculated based on the past 30 days. Confluent Inc (NASDAQ:CFLT)’s beta value is holding at 0.83, while the average true range (ATR) indicator is currently reading 1.67.

An analysis of the Confluent Inc (NASDAQ:CFLT) stock in terms of its daily trading volume indicates that the 3-month average is 1.63. However, this figure increases on the past 10-day timeline to an average of 8.85 million.

Current records show that the company has 307.88M in outstanding shares. The insiders’ percentage holdings are 39.71% of outstanding shares while the percentage share held by institutions stands at 64.17%. The stats also highlight that short interest as of Jan 31, 2024, stood at 22.61 million shares, which puts the short ratio at the time at 5.39. From this we can glean that short interest is 7.34% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 19.57 million. But the 33.18% 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.