Canaccord Genuity took its Intersect ENT [XENT] rating to the equivalent of Buy from Hold, and the price target to $25.0 from $18, in a research note dated 2021-01-11. That figure represents around a 10.72% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with JP Morgan’s analysts downgrading the shares from “an Overweight” rating to “a Neutral” rating in a research note to investors issued in early October. Meanwhile, Guggenheim had raised its rating on XENT to “Buy” from the earlier “Neutral”, in a research note produced for clients August 07, 2020. In addition, Oppenheimer launched coverage on June 24, 2020. The research firm rated XENT “a Perform”.
Is Intersect ENT Inc. [NASDAQ:XENT] a Good Buy Right Now?
It should be noted that XENT technical indicators for short, intermediate as well as long term progress have placed an overall average of 96% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Intersect ENT Inc.’s Trend Spotter indicated that the signals were Bullish. The stock current average is 0.3 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.28 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.26 million shares.
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XENT Price Performance
On Wall Street, Intersect ENT Inc. [NASDAQ:XENT] finished Friday’s session up 4.39% at $22.58. The stock went up to $22.98 at the same session while its lowest single day price was $21.49. In the last five days, it saw a fall of about -1.40%, Intersect ENT Inc. shares dropped by almost -1.40% since the beginning of the year. However, the share price has dropped to as low as -28.23% below its one year high. On 01/06/21, the company shares recorded $24.16, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/07/21, the same year at $21.09. The company’s shares have declined by -9.13% in the past year. The 50-day SMA achieved is $20.22 while the 200-day SMA is $16.37. Volume dropped to 0.2 million from 0.24 million in the previous session.
XENT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 21.72 level, and in case of violation of this particular level, it will cause more drop to 20.86 level. On the upper level, 23.84 is still the key resistance. The stock may increase to the subsequent resistance at 23.21. The Relative Strength Index (RSI) pinned on the 14-day chart is 55.59, implying a neutral technical stance while the MACD stands at -0.32, meaning price will decrease in the next trading period. Percent R indicator moved to 33.49%, implying low price movement. Stochastic %K at 62.34% suggest selling the stock.
What is the short interest in Intersect ENT Inc.?
Short interest in the Intersect ENT Inc. stock has surged, increasing by 0.14 million shares to total 1.37 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.51 million, data from Yahoo Finance shows. The decrease of -10.22% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.23% of the overall float for the stock.
Intersect ENT Inc.’s Biggest Shareholders: Who Owns Intersect ENT Inc. [XENT]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 2,770,000 shares or roughly 8.47% of the outstanding XENT shares. This means their shares have increased by 1,100,000 from the 2,770,000 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, BlackRock Fund Advisors updated stake is worth $41,764,080. Details in the latest 13F filings reveal that Artisan Partners LP acquired their 28.77% stake valued at $36,863,701 while Deerfield Management Company LP cut theirs at $30,101,705. During the last quarter, Artisan Partners LP raised 430,536 of its shares in Intersect ENT Inc. while Deerfield Management Company LP sold -1,003,345 shares. The The Vanguard Group, Inc.’s holdings currently number 1,538,030 shares at $34728717.4. According to the firm’s last 13F report, UBS Securities LLC shares in the company at filing stood at 1,413,317 shares, roughly $27,036,754.
XENT Earnings Forecast For The Current Quarter
Intersect ENT Inc. [XENT] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $27.67M and an earnings per share of -$0.32 for Dec 2020. Looking further ahead, the company is expected to report revenue of $25.98M at an EPS of -$0.35 for Mar 2021. The estimates represent downside of 48.70% and 31.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
XENT Earnings Estimates For The Current Year
For the financial year, Intersect ENT Inc. [NASDAQ:XENT] is expected to bring in revenue of $79.97M. The returns are nearly $-29.17 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.93, lower than that of FY19 by -$0.56. Estimates put this year’s earnings growth at -40.90%, 31.60% for the next, and at an annual 7.60% over the next 5-year period. As for sales, forecasts are for a decrease of -26.70% in the current fiscal year and a further 48.70% over the following year.