Mannkind Corp (NASDAQ:MNKD) shares, rose in value, with the stock price down by -2.71% to the previous day’s close as strong demand from buyers drove the stock to $4.31.
Actively observing the price movement in the last trading, the stock closed the session at $4.43. The value of beta (5-year monthly) was 1.32. Referring to stock’s 52-week performance, its high was $5.75, and the low was $3.17. On the whole, MNKD has fluctuated by -9.26% over the past month.
With the market capitalization of Mannkind Corp currently standing at about $1.17 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024.
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 MNKD’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 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MNKD currently trading nearly -7.98% and 6.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.07, while the 7-day volatility ratio is showing 4.94% which for the 30-day chart, stands at 5.58%. Furthermore, Mannkind Corp (MNKD)’s beta value is 1.33, and its average true range (ATR) is 0.24.
A comparison of Mannkind Corp (MNKD) with its peers suggests the former has fared considerably weaker in the market. MNKD showed an intraday change of -2.71% in last session, and over the past year, it grew by 4.36%%.
Data on historical trading for Mannkind Corp (NASDAQ:MNKD) indicates that the trading volumes over the past 10 days have averaged 2.95 million and over the past 3 months, they’ve averaged 3.12 million. According to company’s latest data on outstanding shares, there are 270.03 million shares outstanding.
Nearly 3.76% of Mannkind Corp’s shares belong to company insiders and institutional investors own 49.49% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 33.05 million shares as on Mar 15, 2024, resulting in a short ratio of 7.9. According to the data, the short interest in Mannkind Corp (MNKD) stood at 12.22% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 34.65 million. The stock has risen by 18.41% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MNKD stock heading into the next quarter.
