The stock of Absci Corp (ABSI) has gone up by 14.57% for the week, with a 0.97% rise in the past month and a 31.06% rise in the past quarter. The volatility ratio for the week is 6.33%, and the volatility levels for the past 30 days are 8.07% for ABSI. The simple moving average for the past 20 days is -1.15% for ABSI’s stock, with a 72.24% simple moving average for the past 200 days.
Is It Worth Investing in Absci Corp (NASDAQ: ABSI) Right Now?
Company’s 36-month beta value is 2.39.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ABSI is 86.48M, and currently, short sellers hold a 9.98% ratio of that floaft. The average trading volume of ABSI on May 02, 2024 was 1.51M shares.
ABSI) stock’s latest price update
The stock price of Absci Corp (NASDAQ: ABSI) has jumped by 9.49 compared to previous close of 4.74. Despite this, the company has seen a gain of 14.57% 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 0.98% 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 -22.77% of loss for the given period.
Volatility was left at 8.07%, however, over the last 30 days, the volatility rate increased by 6.33%, as shares sank -2.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.90% upper at present.
During the last 5 trading sessions, ABSI rose by +14.57%, which changed the moving average for the period of 200-days by +149.52% in comparison to the 20-day moving average, which settled at $5.24. In addition, Absci Corp saw 23.57% 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 89.94. 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
In a nutshell, Absci Corp (ABSI) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
