Senseonics Holdings (NYSEAMERICAN:SENS) Stock Rockets 295% YTD: What To Do Now?
The medical device industry has emerged as a sector of considerable interest among many investors in recent times and many are increasingly getting interested in medical device companies which may still be at a nascent stage.
Market Stats
On Thursday, SENS stock fell 0.80% to $3.70 with more than 13.30 million shares, compared to its average volume of 10.40 million shares. The stock has moved within a range of $3.6700 – 3.9100 after opening the trade at $3.90.
Major Developments
One such company which has managed to garner the attention of retail investors at this point in time is Senseonics Holdings (NYSEAMERICAN:SENS). The Senseonics stock had been a part of that trend but at the same time it is necessary to point out that the current trade is not similar to the meme stock mania and the company’s stock is certainly not one.
The stock had enjoyed a remarkable rally earlier on this year and had rocketed to $5.56 a share from $1 share. However, it has corrected sharply since then and has stayed within the $2 a share and $4 a share range.
It should be noted that that the company is currently best known for having developed the Eversense Continuous Glucose Monitor and it has commercially available. As the product continues to gain traction, it is expected to have a positive effect on the Senseonics stock as well. Hence, it might be a good idea to add the stock to your watch lists.
Traders Corner
SENS stock is trading above the 20-Day and 50-Day Moving averages of $3.66 and $3.58 respectively. Moreover, the stock is trading above the 200-Day moving average of $3.12. The stock is up 15 % in the past month.
