EQRx Inc. (NASDAQ:EQRX) finished Thursday with an addition of $0.02 to close at $2.28, an upside of 0.66 percent. An average of 2,167,679 shares of common stock have been traded in the last five days. There was a gain of $0.03 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 9,538,350 shares traded, while the 50-day average volume stands at 5,257,944.
EQRX stock has increased by 37.05% in the last month. The company shares reached their 1-month lowest point of $1.64 on 07/27/23. With the stock rallying to its 52-week high on 01/06/23, shares of the company touched a low of $1.58 and a high of $5.70 in 52 weeks. It has reached a new high 4 times so far this year and lost -7.52% or -$0.18 in price. In spite of this, the price is down -60.12% from the 52-week high.
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Valuation Metrics
EQRx Inc. (EQRX) stock’s beta is 0.36. Other valuation ratios to consider include the price-to-book (PB) ratio at 0.88.
Financial Health
The quick ratio of EQRx Inc. for the three months ended June 29 was 22.60, and the current ratio was 22.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, EQRx Inc.’s return on assets was -18.50%.
Earnings Surprise
The company posted a net income of -$72.96 million in the quarter, while revenues of -$82.55 million were shrunk -13.14%. The analyst consensus anticipated EQRx Inc.’s latest quarter earnings to come in at -$0.13 per share, but it turned out to be -$0.15, a -15.40% surprise. Shareholders own equity worth $487.42 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at EQRx Inc. (EQRX) price momentum. RSI 9-day as of the close on 24 August was 69.40%, suggesting the stock is Neutral, with historical volatility in this time frame at 14.52%.
As of today, EQRX’s price is $2.25 +1.33% or $0.03 from its 5-day moving average. EQRX is currently trading +33.33% higher than its 20-day SMA and +16.33% higher than its 100-day SMA. However, the stock’s current price level is +25.97% above the SMA50 and -58.01% below the SMA200.
The stochastic %K and %D were 82.05% and 75.00%, respectively, and the average true range (ATR) was 0.07. With the 14-day stochastic at 92.31% and the average true range at 0.08, the RSI (14) stands at 65.62%. The stock has reached 0.02 on the 9-day MACD Oscillator while the 14-day reading was at 0.03.
Analyst Ratings
JP Morgan downgraded EQRx Inc. (NASDAQ: EQRX) to a an Underweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for EQRx Inc. (EQRX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EQRX, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is EQRX’s price target for the next 12 months?
Analysts predict a range of price targets between $2.10 and $2.10, with a median target of $2.10. Taking a look at these predictions, the average price target given by analysts for EQRx Inc. (EQRX) stock is $2.10.
