- Oops!Something went wrong.Please try again later.
Rimini Street, Inc. RMNI has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because RMNI is now in overbought territory with an RSI value of 71.58.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Yet RMNI’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions Rimini Street’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of RMNI’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for RMNI’s has also been on a downward trend over the same time period too, as the estimates have fallen 2% over the last two months.
If this wasn’t enough, Rimini Street also has a Zacks Rank #5 (Strong Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Rimini Street, Inc. (RMNI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research