The Market Myopia Regarding News Corporation (NWS) And Arena Pharmaceuticals, Inc. (ARNA)

The stocks of News Corporation (NASDAQ:NWS) has been Upgraded as a Buy from Neutral by Citigroup in its latest research note that was published on July 26.

NWS surged by $0.02 during the normal trading session on Friday and reaching a high of $13.40 during the day while it closed the day at $13.17. The News stock had a low trading volume of 0.52 million shares on that day, which is low compared to the average daily volume of 572.83M shares. NWS has also gained 2.09% of its value over the past 7 days. However, the stock has declined by 6.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 12.37% while it has added 14.03% year-on date.

Shares in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) fell by -0.64 percent on Friday. The company’s stock began trading at $48.39 below the previous closing price of $48.7, and finished the day at $47.38. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -12.41% from its 3 months high price. However, taking another look at ARNA will indicate that it is trading +9.97% away from its 90-day low. Looking at the bigger picture, the Arena Pharmaceuticals, Inc. stock has dropped by -26.52% from its 52-week high while it has surged by +35.22% from its 52-week low price.

On November 13, 2019 Lisicki Robert, EVP, Chief Commercial Officer sold 4,429 shares of the company. The average price for that transaction was $45.83 per share, which meant that Lisicki Robert earned $202,981.10 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, WOODS RANDALL E selling 3,046 shares of this stock on November 12, 2019. The average selling price for the stock was $46.73 per share, with the sold stock accruing $142,339.60. Following this transaction, the insider now holds 14,230 shares of the company, which is worth around $190,397.40.

Let us now take a quick look at the stock’s short, medium and long-term indicators. Composite Indicator shows that ARNA stock was rated as a Hold by TrendSpotter. Its short-term indicators reveal that Arena has a 20-day average volume of 365310 shares. This has led to the ARNA price forecast being placed as a 50% Sell on an average basis. In the medium term, however, the ARNA stock has its 50-Day average volume of 365210 shares, with the indicators also rating it as a 100% Sell. Finally, in the long-term, the ARNA stocks have a 100-Day average volume of 406455 shares, with the long-term indicators rating the stock as just 50% Sell.

Arena has around 171 Million cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $37 Million. The Arena stock is bringing in revenue of over 12 months, which is roughly 812 Million. Despite all that, Arena Pharmaceuticals, Inc. is seeing things declining very much as their y-o-y quarterly revenue dropped by -62.22%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 49.06%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 59.45%. Over the past 20 days, Arena’s Stochastic %K stood at 71.63% while its Stochastic %D was revealed to be 76.59%.