Is Presbia PLC – Ordinary Shares (NASDAQ:LENS) Overbought?

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Presbia PLC – Ordinary Shares (NASDAQ:LENS) has reached overbought status with an RSI(14) at 82.29 .

The Relative Strength Index (RSI) is a very common technical indicator used to evaluate strengthening and weakening momentum in price action. An RSI above 70 is an overbought indication with RSI’s under 30 indicating oversold. Overbought is a technical condition that occurs when price momentum is considered too high and susceptible to a decline.

The stock’s Average True Range (ATR) is sitting at 0.26. The ATR is a short term indicator of volatility. It can’t tell you the direction of the stock but indicates how likely the price is to change.

Company shares last traded at $3.80 significantly higher than the 50 day moving average of $2.98 and which is significantly above the 200 day moving average of $2.98. The 50 day moving average was up $0.82 or +27.52% and the 200 day average moved up $0.82.

Short Interest

Short traders are more bearish on shares of Presbia PLC – Ordinary Shares as inferred by the rise in short interest. The stock saw a rise in short interest of 23.93% as of the latest report on August 31, 2017. Short shares increased from 11,389 to 14,114 over that timeframe. With short interest at 14,114 and short average daily volume at 4,525, days to cover is 3.0 and the percentage of shorted shares is 0.00% as of August 31.

As of the last earnings report the EPS was $-1.19 and is estimated to be $-1.04 for the current year with 16,956,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $-0.24 and the next full year EPS is projected to be $-0.67.

Company Information

Presbia PLC, launched on February 6, 2014, is an ophthalmic device company. The Company develops and markets an optical lens implant for treating presbyopia, the age-related loss of the ability to focus on near objects. The Business’s segment is the restoration of clear vision caused by presbyopia. The Company provides the refractive lens for patient surgeries and accessories for procedures performed exclusively outside the United States. The Business’s lens, referred to as the microlens, is a miniature lens designed to be surgically implanted in a patient’s eye to improve that patient’s ability to see objects at close distances. The microlens is a disc shaped lens that has a refractive zone in the periphery designed to improve near vision problems associated with presbyopia and a central zone that is designed to improve distance vision. The Company intends to be a provider of corneal inlay presbyopia-correcting treatment..