Don’t Get Into Zion Oil & Gas, Inc. (NASDAQ:ZN) Shares For The Wrong Reasons

Taking into account all relevant factors, Zion Oil & Gas, Inc. (NASDAQ:ZN) scores 24% Buy on the technical side. The share price is also flashing a Buy from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for ZN averaged 50% Buy with an average daily trading volume over the past 20 days at 10711263 shares. Those using medium-term investment strategies, the shares have overall a 0.5% Sell signal while the 50-day average daily volume remained almost 5072961 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was 2974296 shares, is signaling50% Buy for long term investors.

The stock is lingering around the initial support level of $0.3. After this, the following support is at the zone of $0.27. Up until the time the ZN stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 61.17 on the daily chart, and this may be a cause for concern. In case the price goes below $0.27 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $0.38 level may cause a pull-back move approaching $0.42 mark.

Let’s take a glimpse at some insider activity at Zion Oil & Gas, Inc. (NASDAQ:ZN) and observe the pattern. The earliest insider trade happened on 01/24/2019. Carrillo Victor G parted with a total of 25 thousand shares of the firm at average share price of $0.52. The total amount for the sale was set at $13 thousand. On completing this exchange, the Former officer account balance was 126.5 thousand shares. The stock lost -36.54 percent from that insider sale. On 01/08/2019, Carrillo Victor G, Former officer, did a sale of 50 thousand shares at a price of $0.43 per share. This got rid of 21.5 thousand shares from the insider’s fortune and the stock experienced a -23.26 percent retreat in price since the news became public. This exchange saw 151.5 thousand shares get out from the Former officer account. On 12/26/2017, Director Scammahorn Gene recorded a purchase transaction valued at $0.6 thousand. The purchase at $1.88 a share has added 0.32 thousand shares into the insider’s portfolio position. Meanwhile, shares price witnessed -82.45 percent decrease since the transaction reporting date. The company insider is left with 1.43 thousand shares remaining in the account. Van Brauman Martin, who works as Treasurer at the company, performed a sale of 25.07 thousand shares in a transaction worth $49.88 thousand. The disposal recorded on 11/17/2017 was priced at $1.99 per share. The stock price plunged -83.42 percent since the transaction. Van Brauman Martin currently holds a stake of 430.52 thousand in ZN stock which is worth $150.68 thousand after the insider selling.

In the recent trading session, Zion Oil & Gas, Inc. (NASDAQ:ZN) shares gained 5.52% or 0.01 points to reach at $0.35 with a thin trading volume of 2.937 million shares. It opened the trading session at $0.3209, the shares rose to $0.39 and dropped to $0.315, the range by which the price of stock traded the whole session. The company now has a market cap of $34.37 million and currently has 102.37 million outstanding shares. Zion Oil & Gas, Inc. (ZN) stock has accumulated 116.86 percent of market value in 21 trading days.

ZN stock’s trailing 3-year beta is 0.13, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.55 share in the trailing 52 weeks. The stock’s value surged 94.5 percent year to date (YTD) compared to a decline of -26.81 percent in 52 week’s period. The firm’s shares are still trading -70.48 percent below its 1-year high of $1.20 and 195.19 percent up from 52-week low of $0.12. The average consensus ranking on the company is 0, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.

Zion Oil & Gas, Inc. (ZN) shares are trading at a P/E ratio of -0.43 times earnings posted in the trailing 12 months. The industry ZN deals with has an average P/E of 15.44. Its P/B ratio is standing at 25.84X compared to the 2.12 industry average.

Past records have indicated that shares in Zion Oil & Gas, Inc. declined on 11 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.