Rani Therapeutics Holdings Inc (NASDAQ:RANI) price on Thursday, March 28, rose 2.64% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.11.
A look at the stock’s price movement, the close in the last trading session was $3.03. The beta value (5-Year monthly) was 0.97. Turning to its 52-week performance, $5.81 and $1.82 were the 52-week high and 52-week low respectively. Overall, RANI moved -9.33% over the past month.
Rani Therapeutics Holdings Inc’s market cap currently stands at around $80.98 million, with investors looking forward to this quarter’s earnings report slated for Mar 20, 2024. Analysts project the company’s earnings per share (EPS) to be -$0.2, which has seen fiscal year 2024 EPS growth forecast to increase to -$0.82 and about -$0.66 for fiscal year 2025. Per the data, EPS growth is expected to be 38.30% for 2024 and 19.50% for the next financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 2 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that RANI is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
RANI’s current price about -9.95% and -10.80% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.62, while 7-day volatility ratio is 10.54% and 8.41% in the 30-day chart. Further, Rani Therapeutics Holdings Inc (RANI) has a beta value of 0.91, and an average true range (ATR) of 0.28.
If we refocus on Rani Therapeutics Holdings Inc (NASDAQ:RANI), historical trading data shows that trading volumes averaged 76670.0 over the past 10 days and 79.32K over the past 3 months. The company’s latest data on shares outstanding shows there are 26.04 million shares.
The 55.82% of Rani Therapeutics Holdings Inc’s shares are in the hands of company insiders while institutional holders own 7.73% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.86 million on Mar 15, 2024, giving us a short ratio of 26.35. The data shows that as of Mar 15, 2024 short interest in Rani Therapeutics Holdings Inc (RANI) stood at 7.15% of shares outstanding, with shares short rising to 1.67 million registered in Feb 15, 2024. Current price change has pushed the stock -6.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RANI stock continues to rise going into the next quarter.
