GenMark Diagnostics Inc. [NASDAQ:GNMK] has active tape with a current price of $15.11 against an analyst price target of 20.60.
For the year, the stock is trading 214.14% and the five-day change stands at 6.41%. As a point of reference, the S&P 500 is trading 1.71% YTD.
Other data to note about the company today is the Recommendation Trend that is leaning toward GenMark Diagnostics Inc. [GNMK] as Strong Buy.
The Price is right
Holding a Market Cap of $1.08 billion, GenMark Diagnostics Inc. has seen a trading range over the last year of $3.36-$20.88.
For the last five days, GNMK is up from its last closing price. The average shares trading hands each day is 1.33M.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for GNMK. When we apply the Elder Force Index to GenMark Diagnostics Inc., we are seeing an Elder Force Indicator number of 1237710.3.
Recent Performance
In the last quarter, GNMK made a profit of 15.85 million. GenMark Diagnostics Inc. also saw quarter revenue growth year over year of 24.40%.
Technical Analysis
Looking at popular technical indicators, the company’s 5-day moving average is 14.22 compared to the 50-day moving average of 10.29%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. GNMK currently holds a 9-day RSI of 69.01%, while 100-day RSI stands at 54.50%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. GNMK’s 9-day MACD is 0.30 and the company’s 100-day MACD stands at 0.40.
Inside Moves
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 4.70% by insiders and 91.80% by institutions. Regarding institutional holdings, FMR, LLC owns 14.71%, while the second top holder, Consonance Capital Management LP, currently owns 9.70%.
Over the last six months, insiders have sold 500 with the most recent transaction from Jensen Tyler, SVP, Engineering and Tech Dev, with a sell at price 14.46 per share.
Conclusion
Overall, the recommended rating for GNMK is Strong Buy. Currently, the company has 7 analysts watching the stock, and the average quarterly earnings estimate is -0.07. Quarterly revenue estimates are averaging 38.09M with the high estimate reaching 41.5M and the low at 34.4M.
To review, the current 1-year target estimate is sitting at 20.60, while the current price 15.11. Based on this, we expect the stock to rise considering the aforementioned fundamentals.
