Absci Corp (NASDAQ:ABSI) shares, rose in value on Thursday, May 08, with the stock price up by 5.26% to the previous day’s close as strong demand from buyers drove the stock to $2.80.
Actively observing the price movement in the last trading, the stock closed the session at $2.66. Referring to stock’s 52-week performance, its high was $6.33, and the low was $2.01. On the whole, ABSI has fluctuated by 23.35% over the past month.
With the market capitalization of Absci Corp currently standing at about $357.14 million, investors are eagerly awaiting this quarter’s results, scheduled for in June.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.07M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ABSI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of ABSI currently trading nearly -6.63% and -5.58% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.50, while the 7-day volatility ratio is showing 7.26% which for the 30-day chart, stands at 8.51%. Furthermore, Absci Corp (ABSI)’s beta value is 2.19, and its average true range (ATR) is 0.23.
A comparison of Absci Corp (ABSI) with its peers suggests the former has fared considerably weaker in the market. ABSI showed an intraday change of 5.26% in last session, and over the past year, it shrunk by -46.26%%.
Data on historical trading for Absci Corp (NASDAQ:ABSI) indicates that the trading volumes over the past 3 months, they’ve averaged 3.80 million. According to company’s latest data on outstanding shares, there are 115.36 million shares outstanding.
Nearly 19.15% of Absci Corp’s shares belong to company insiders and institutional investors own 61.32% of the company’s shares. The stock has risen by 6.87% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ABSI stock heading into the next quarter.
