Ontrak Inc (NASDAQ: OTRK) Stock Buying Tips

Ontrak Inc (NASDAQ:OTRK) shares, rose in value, with the stock price down by -10.71% to the previous day’s close as strong demand from buyers drove the stock to $0.44.

Actively observing the price movement in the last trading, the stock closed the session at $0.49. Referring to stock’s 52-week performance, its high was $4.08, and the low was $0.14. On the whole, OTRK has fluctuated by 184.09% over the past month.

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Analysts have estimated the company’s revenue for the quarter at $2.51 million, with a low estimate of $3 million and a high estimate of $3 million. According to the average forecast, sales growth in current quarter could jump down -75.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $14.51 million, representing a decrease of -82.70% 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 OTRK’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of OTRK currently trading nearly 48.05% and 84.70% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.00, while the 7-day volatility ratio is showing 61.00% which for the 30-day chart, stands at 33.22%. Furthermore, Ontrak Inc (OTRK)’s beta value is 2.40, and its average true range (ATR) is 0.13.

A comparison of Ontrak Inc (OTRK) with its peers suggests the former has fared considerably weaker in the market. OTRK showed an intraday change of -10.71% in last session, and over the past year, it shrunk by -86.19%%.

Data on historical trading for Ontrak Inc (NASDAQ:OTRK) indicates that the trading volumes over the past 10 days have averaged 16.08 million and over the past 3 months, they’ve averaged 6.56 million. According to company’s latest data on outstanding shares, there are 27.56 million shares outstanding.

Nearly 79.50% of Ontrak Inc’s shares belong to company insiders and institutional investors own 12.98% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 54480.0 shares as on Mar 15, 2024, resulting in a short ratio of 0.08. According to the data, the short interest in Ontrak Inc (OTRK) stood at 0.20% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 80520.0. The stock has risen by 9.10% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OTRK stock heading into the next quarter.