On 14 March, shares of Check-Cap Ltd. (NASDAQ:CHEK) closed lower after a volatile session. The shares dropped -0.01 points or -0.4 percent at $2.48 with a light trade volume of 2.199 million shares. After opening the session at $2.51, the shares went as high as $3.5 and as low as $2.38, the range within which the stock’s price traded throughout the day. The firm is left with a market cap of $19.59 million and now has 7.9 million shares outstanding. Check-Cap Ltd. (CHEK) stock has gained 18.66 percent of market value in 21 trading days.
CHEK stock has a trailing 3-year beta of 1.19, offering the possibility of a higher rate of return, but also posing more risk. The portion of a company’s profit allocated to each outstanding share of common stock was -$3.69 a share in the trailing twelve months. The stock’s value has surged 15.35 percent year to date (YTD) against a decline of -70.89 percent in 12 month’s time. The company’s shares still trade -87.46 percent away from its 1-year high of $19.78 and 53.09 percent up from 52-week low of $1.62. The average consensus rating on the company is 0, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a buy.
Check-Cap Ltd. (CHEK) will probably climb 464.52 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $14-month high price target. This represents a whopping 464.52 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $10, which represents a return potential of 303.23 percent when compared to the closing price of the stock of $2.48 on Thursday, March 14. The lowest price target for the stock is $6 — slightly more than 141.94 percent from CHEK’s current share price.
History has shown that shares in Check-Cap Ltd. have gone up on 3 different earnings reaction days and are predicted to add 0.03 percent when the company reports upcoming earnings.
The stock is currently hovering around the first support level of $2.07. Below this, the next support is placed in the zone of $1.67. Till the time, the CHEK stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 62.38 on daily chart, which may remain a cause for concern. If the price breaks below $1.67 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $3.19 mark may result into a pull-back move towards $3.91 level.