Setting Up For A Move Higher: Abraxas Petroleum Corporation (AXAS), Baxter International Inc. (BAX)

Abraxas Petroleum Corporation (NASDAQ:AXAS) average daily volatility for this week is 5.86% which is less than the 10.86% recorded over the past month. Its shares dropped by -58.72% or -$1.92 from its last recorded high of $3.27 which it attained on May 22 to close at $1.35 per share. Over the past 52 weeks, the shares of Abraxas Petroleum Corporation has been trading as low as $0.9 before witnessing a massive surge by 50% or $0.45. This price movement has led to the AXAS stock receiving more attention and has become one to watch out for. It dipped by -2.88% on Sunday and this got the market worried. The stock’s beta now stands at 1.68 and when compared to its 200-day moving average and its 50-day moving average, AXAS price stands -40.49% below and -11.36% below respectively.

Abraxas Petroleum Corporation (AXAS) sank 0% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a drop that has seen it decline -46.64% and is now up by 23.85% since start of this year. A look at its monthly performance shows that the stock has recorded a -7.53% fall over the past 30 days. Its equity price dipped by -37.21% over the past three months which led to its overall six-month decrease to stand at -53.29%.

Experts from research firms are bullish about the near-term performance of Abraxas Petroleum Corporation with most of them predicting a $3.41 price target on a short-term (12 months) basis. The average price target by the analysts will see a 152.59% rise in the stock and would lead to AXAS’s market cap to surge to $585.02M. The stock has been rated an average 1.6, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 8 analysts that track Abraxas Petroleum Corporation (NASDAQ:AXAS) and find out that 1 of them rated it as a Hold. 7 of the 7 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at AXAS technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 49.57 point. Its trading volume has lost -303345 shares compared to readings over the past three months as it recently exchanged 1106655 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 1410000 shares, and this is 0.78 times the normal volume.

The price of Baxter International Inc. (NYSE:BAX) currently stands at $66.81 after it went down by $-0.5 or -0.74% and has found a strong support at $66.49 a share. If the BAX price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $66.18 mark would also be bad for the stock as it means that the stock would plunge by 0.94% from its current position. However, if the stock price is able to trade above the resistance point around $67.08, then it could likely surge higher to try and break the upward resistance which stands at $67.36 a share. Its average daily volatility over the past one month stands at 2.29%. The stock has plunged by 0.54% from its 52-weeks high of $66.45 which it reached on Sep. 20, 2018. In general, it is 8.62% above its 52-weeks lowest point which stands at $61.05 and this setback was observed on Oct. 31, 2018.

Analysts have predicted a price target for Baxter International Inc. (BAX) for 1 year and it stands at an average $74.61/share. This means that it would likely increase by 11.67% from its current position. The current price of the stock has been moving between $66.45 and $67.04. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $63. On the other hand, one analyst is super bullish about the price, setting a target as high as $83.

The BAX stock Stochastic Oscillator (%D) is at 84.32%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 3.24 which compares to the 6.7 recorded by the industry or the 6.26 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 20.42, which is higher than the 20.28 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -10.5% over the past five years.

Analysts view Baxter International Inc. (NYSE:BAX) as a Hold, with 2.1 consensus rating. Reuters surveyed 17 analysts that follow BAX and found that 5 of those analysts rated the stock as a Hold. The remaining 12 were divided, with 10 analyst rating it as a Buy or a Strong Buy while 2 analysts advised investors to desist from buying Baxter International Inc. (BAX) shares or sell it if they already own it.