Analyst Sees More Upside Coming For Rallying Pulse Biosciences

It doesn't appear that any other Wall Street firms are officially in coverage on Pulse

Feb 25, 2019 at 10:44 AM
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Nano-pulse technology expert Pulse Biosciences Inc (NASDAQ:PLSE) has seen its stock shoot higher in recent weeks, with the rally essentially starting at the end of January, when the shares were trading near $12. Today, PLSE stock is trading at 17.66, though this puts its 3.1% lower on the day, even after a positive analyst note.

Specifically, H.C. Wainwright began coverage on the security with a "buy" endorsement and $27 price target, representing upside of almost 53% from current levels. Interestingly, I am not seeing any other analyst coverage on the stock, either in Thomson Reuters Eikon, the data we receive from Zacks, or on the company's investor relations page. As such, we should watch and see if PLSE shares attract more upbeat attention going forward.

One group that has taken note of Pulse Biosciences is short sellers, who control roughly one-fourth of the total float. Going by average daily trading volumes, it would take at least four weeks for short sellers to cover their positions.

Meanwhile, it's probably not surprising to point out that PLSE sees very little activity in the options pits. Peak open interest of 352 contracts resides at the July 12.50 call, followed by 340 options at the April 20 call.

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