In the past week, ABSI stock has gone down by -12.99%, with a monthly gain of 13.52% and a quarterly surge of 45.33%. The volatility ratio for the week is 6.91%, and the volatility levels for the last 30 days are 7.92% for Absci Corp The simple moving average for the last 20 days is -3.85% for ABSI’s stock, with a simple moving average of 84.95% for the last 200 days.
Is It Worth Investing in Absci Corp (NASDAQ: ABSI) Right Now?
The stock has a 36-month beta value of 2.34. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ABSI is 86.25M, and at present, short sellers hold a 12.16% of that float. On April 18, 2024, the average trading volume of ABSI was 1.55M shares.
ABSI) stock’s latest price update
Absci Corp (NASDAQ: ABSI)’s stock price has dropped by -1.67 in relation to previous closing price of 5.38. Nevertheless, the company has seen a loss of -12.99% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-10 that Absci Corporation (ABSI) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Analysts’ Opinion of ABSI
Many brokerage firms have already submitted their reports for ABSI stocks, with Scotiabank repeating the rating for ABSI by listing it as a “Sector Outperform.” The predicted price for ABSI in the upcoming period, according to Scotiabank is $13 based on the research report published on March 14, 2024 of the current year 2024.
KeyBanc Capital Markets, on the other hand, stated in their research note that they expect to see ABSI reach a price target of $3. The rating they have provided for ABSI stocks is “Overweight” according to the report published on December 05th, 2023.
H.C. Wainwright gave a rating of “Buy” to ABSI, setting the target price at $4 in the report published on May 04th of the previous year.
ABSI Trading at 3.96% from the 50-Day Moving Average
After a stumble in the market that brought ABSI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -21.28% of loss for the given period.
Volatility was left at 7.92%, however, over the last 30 days, the volatility rate increased by 6.91%, as shares surge +9.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +32.58% upper at present.
During the last 5 trading sessions, ABSI fell by -12.99%, which changed the moving average for the period of 200-days by +248.03% in comparison to the 20-day moving average, which settled at $5.53. In addition, Absci Corp saw 25.95% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ABSI starting from Redmile Group, LLC, who purchase 222,222 shares at the price of $4.50 back on Mar 01 ’24. After this action, Redmile Group, LLC now owns 8,253,316 shares of Absci Corp, valued at $999,999 using the latest closing price.
Stock Fundamentals for ABSI
Current profitability levels for the company are sitting at:
- -20.11 for the present operating margin
- -1.45 for the gross margin
The net margin for Absci Corp stands at -19.34. The total capital return value is set at -0.56. Equity return is now at value -49.08, with -38.58 for asset returns.
Based on Absci Corp (ABSI), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at -6.31. The debt to equity ratio resting at 0.06. The interest coverage ratio of the stock is -113.88.
Currently, EBITDA for the company is -79.68 million with net debt to EBITDA at 0.97. When we switch over and look at the enterprise to sales, we see a ratio of 91.65. The receivables turnover for the company is 2.61for trailing twelve months and the total asset turnover is 0.02. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.08.
Conclusion
To sum up, Absci Corp (ABSI) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
