Is Senseonics Holdings Inc. (SENS) Stock Ready To Hit New High in September?

Senseonics Holdings Inc. (NYSEAMERICAN:SENS) is among the companies with a substantial social media presence. Still, despite the hype, the stock offers some sound ground for justification for investors ready to gamble.

The company became famous for its continuous glucose monitor device, Eversence, which offers diabetic patients enhanced flexibility in their daily lives and improving outcomes. Still, Senseonics has positioned itself as one of the top innovators in the sector, which gives significant upside for the stock. Moreover, CGM product demand will grow significantly in the coming days, especially as economies move past the COVID-19 pandemic.

The CGM market is estimated to be worth around $5.28 billion, according to Grand View Research, and by 2028, it would be worth $10.36 billion. Eversense has competitive advantages over rivals, especially the on-body vibration notifications. In the event of lows or highs, the transmitter vibrates and notifies the user even if the phone is not in range. Eversense gives Senseonic an edge, and thus SENS is worth watching.

Market Reaction:

On Wednesday, SENS stock jumped 1.64% to $3.72 with more than 14.04 million shares, compared to its average volume of 29.30 million shares. The stock has moved within a range of $3.4650 – 3.7700 after opening the trade at $3.59.