The stock of EQRx Inc. (NASDAQ:EQRX) increased by $0.01 on Tuesday to $2.25, up 0.45 percent. The last five days have seen an average of 2,496,041 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$0.20. The average number of shares traded over the last 20 days was 9,303,130, while the average volume over the last 50 days totaled 5,119,514.
EQRX stock appreciated 12.50% since last month. On 07/27/23, the company’s shares reached a one-month low of $1.64. The stock touched a high of $5.75 on 01/06/23, after rallying from a low of $1.58 in 52 weeks. The price of EQRX stock has declined by -8.54% or -$0.20 this year, reaching a new high 4 times. Still, the stock price is down -60.87% from the 52-week high.
Financial Health
For the three months ended June 29, EQRx Inc.’s quick ratio was 22.60, while its current ratio was 22.60, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EQRX’s return on assets (ROA) during the last 12 months has been -18.50%. In the meantime, the return on equity (ROE) for the last 12 months was -19.60%.
Earnings Surprise
According to EQRx Inc.’s quarterly financial report for the quarter that ended June 29, it had $1.01 billion in cash and short-term investments. It was predicted that EQRx Inc.’s quarterly earnings would be -$0.15, but it ended up being -$0.13, beating the consensus by -15.40%. At the end of EQRx Inc.’s most recent quarter ended June 29, its liabilities totaled 63.08 million, while its total debt was $2.65 million. Equity owned by shareholders amounts to $487.42 million.
Technical Picture
Here’s a quick look at EQRx Inc.’s (EQRX) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 71.09%, suggesting the stock is Overbought, with a 33.92% historical volatility rate.
The stochastic %K and %D were 93.08% and 91.88% respectively, while the average true range (ATR) was 0.10. Based on the 14-day stochastic reading of 94.62%, the RSI (14) reading is 66.14%. On the 9-day MACD Oscillator, the stock is at 0.01, and the 14-day reading is at 0.15.
Analyst Ratings
EQRx Inc. (NASDAQ: EQRX) was downgraded by JP Morgan to a an Underweight rating in its latest research report. The stock was previously rated as a a Neutral. Analysts have assigned EQRx Inc. (EQRX) an Overweight rating. EQRX is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is EQRX’s price target for the next 12 months?
The current consensus forecast for the stock is between $2.10 and $2.10, with a median target price of $2.10. In analyzing these forecasts, the average price target given by analysts for EQRx Inc. (EQRX) is $2.10.
