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Zomedica Corp.’s (AMEX: ZOM) -0.18% Decline Frightens Investors Off The Stock

Zomedica Corp. (AMEX:ZOM) traded at $0.27 at close of the session on Tuesday, 01/24/23, made a downward move of -0.18% on its previous day’s price.

Looking at the stock we see that its previous close was $0.27 and the beta (5Y monthly) reads 0.74 with the day’s price range being $0.27 – $0.27. In terms of its 52-week price range, ZOM has a high of $0.50 and a low of $0.15. The company’s stock has gained about 62.26% over that past 30 days.

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Zomedica Corp. has a market cap of $267.19 million and is expected to release its quarterly earnings report on Feb 23, 2023 – Feb 27, 2023.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ZOM stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Zomedica Corp. (ZOM) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 23.91% off its SMA20 and 29.33% from its 50-day simple moving average. The RSI (14) is pointing at 65.37 while the volatility over the past week is 10.48% and jumps to 10.45% over the past one month. The beta value is 0.82, while the average true range (ATR) is currently pointing at 0.02. The average price target for the stock over the next 12 months is $6.00, with the estimates having a low of $6.00 and a high of $6.00. These price ends are -2122.22% and -2122.22% off the current price level respectively, although investors could be excited at the prospect of a -2122.22% if the ZOM share price touches on the median price of $6.00.

Coming back to Zomedica Corp. (AMEX:ZOM), we note that the average 3-month trading volume was 9.92 million, while that of the preceding 10-day period stands at 19.74 million. Current shares outstanding are 979.95 million.

The insiders hold 1.48% of the company’s shares while institutions hold 9.70%. The data shows that short shares as of Oct 13, 2022, stood at 89.39 million at a short ratio of 12.23. This represents a 9.12% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 85.71 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 65.64% up in year-to-date price movement.

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