Axonics Inc (NASDAQ:AXNX) shares, rose in value on Thursday, April 04, with the stock price down by -2.51% to the previous day’s close as strong demand from buyers drove the stock to $67.90.
Actively observing the price movement in the recent trading, the stock is buoying the session at $69.65. The value of beta (5-year monthly) is 0.56. Referring to stock’s 52-week performance, its high was $69.68, and the low was $47.59. On the whole, AXNX has fluctuated by 0.77% over the past month.
With the market capitalization of Axonics Inc currently standing at about $3.46 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 29, 2024 – May 03, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.1, which is expected to increase to $0.26 for fiscal year $0.46 and then to about $0.86 by fiscal year 2025. Data indicates that the EPS growth is expected to be 483.30% in 2025, while the next year’s EPS growth is forecast to be 87.00%.
Analysts have estimated the company’s revenue for the quarter at $88.37 million, with a low estimate of $87.6 million and a high estimate of $89.8 million. According to the average forecast, sales growth in current quarter could jump up 25.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $449.2 million, representing an increase of 22.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AXNX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AXNX currently trading nearly -0.65% and -0.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.67, while the 7-day volatility ratio is showing 0.55% which for the 30-day chart, stands at 0.65%. Furthermore, Axonics Inc (AXNX)’s beta value is 0.59, and its average true range (ATR) is 0.61.
A comparison of Axonics Inc (AXNX) with its peers suggests the former has fared considerably weaker in the market. AXNX showed an intraday change of -2.51% in today’s session so far, and over the past year, it grew by 23.95%%.
Data on historical trading for Axonics Inc (NASDAQ:AXNX) indicates that the trading volumes over the past 10 days have averaged 1.1 million and over the past 3 months, they’ve averaged 1.37 million. According to company’s latest data on outstanding shares, there are 50.77 million shares outstanding.
Nearly 1.10% of Axonics Inc’s shares belong to company insiders and institutional investors own 100.84% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.94 million shares as on Mar 15, 2024, resulting in a short ratio of 3.95. According to the data, the short interest in Axonics Inc (AXNX) stood at 5.77% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.65 million. The stock has risen by 9.11% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AXNX stock heading into the next quarter.
