Daily market Notes: Open Text Corporation (OTEX) and Dynavax Technologies Corporation (DVAX)

The recent price movement of OTEX means that it is now down by -11.58% from its 52-week high and 26.94% up against its 52-week low prices. Over the past one week, the price volatility of OTEX stands at 2.62% while the volatility over the past one month is 1.91%. The beta score for this stock is 0.57. A beta score below 1 means that the stock has a low volatility while above 1 signifies that a stock is highly volatile at that particular moment, a data that traders use to keep tabs on their investments.

The company on 08/01/2019 published its latest quarterly earnings, with the report showing that the company recorded 0.6 earnings per share (EPS) during that period. This report was above the expectations of analysts of 0.59 by 0.01. The revenue by the firm was 701.83M for the quarter.

The shares of Open Text Corporation (OTEX) dropped by -3.70%, leading to a loss of -$1.51 per share, and saw OTEX end the trading session at $39.34 on Friday 10/18/19. OTEX started the trading session at $40.93, before reaching a daily high of $42.65. It wasn’t able to sustain that growth though and soon jumped to hit a daily low of $39.30.

The trading volume on Friday stood at 2331344, which was below the stock’s 3-month average volume of 535.89K shares, out of a total 265.17M shares. As the price of the stock dipped, the market valuation of the company dropped to 11.03 billion.

The shares of Dynavax Technologies Corporation (NASDAQ: DVAX) went down by -3.77% by the end of the recent trading session. This movement saw its price plunge to close at $4.08, which was lower than the previous closing price of $4.24. Over the past one week, the price of DVAX has jumped by 3.82%, while it has recorded a loss of -7.27% over the past one month. Its three-month performance saw DVAX gain 21.79% while its six-month performance saw it drop by -35.85%. The situation is different though over the past one year, as the stock price went down by -65.31%, while its year-to-date (YTD) price performance slipped by -55.41%. The stock price has gone up by +57.23% compared to its 90-day low, while it is down -19.37% compared to its 90-day high price.

Let’s take a look at its short, medium and long-term indicators. Composite Indicators shows that Trendspotter rated the stock as a Sell. In the short-term, the stock has a 20-day average volume of 1,109,470 shares, with the short-term indicators averagely rating the stock as a Hold. A look at its medium-term indicators reveals that it has a 50-Day average volume of 1,505,642 shares and the indicators have an average rating of 50% Sell. The last indicators, the long-term see DVAX stock with a 100-Day average volume of 1,572,445 shares, giving it an average rating of 50% Sell. A look at the general picture of all short, medium and long-term indicators leaves DVAX with an average rating of 40% Sell.

Several brokerage firms sent out their reports DVAX stock not long ago. In its report sent out on October 18, 2019, H.C. Wainwright lowered its ratings on DVAX to a Buy. In an earlier report on July 11, 2019, Cantor Fitzgerald Upgrade the stock from a Neutral to a Overweight. Cantor Fitzgerald meanwhile in its report on February 27, 2019 Reiterated its rating of the stock to “Overweight”.

In related news to the company’s stock, around 95.00% shares are being held by institutional investors. In a recent SEC filing, the company revealed that 156 institutions currently hold the DVAX stock. In the last quarter, a 54,187,622 DVAX shares were in the possession of institutions. On the other hand, the company recorded 22 new institutions who bought it their stock, while 27 institutions sold their entire DVAX reserve. Of the current institutions investing in the stock, 62 increased their investment while 63 decreased their investment in the stock.