Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) shares, rose in value on Friday, May 26, with the stock price up by 5.52% to the previous day’s close as strong demand from buyers drove the stock to $3.54.
Actively observing the price movement in the last trading, the stock closed the session at $3.35, falling within a range of $3.31 and $3.58. The value of beta (5-year monthly) was 2.15. Referring to stock’s 52-week performance, its high was $19.95, and the low was $2.12. On the whole, MNMD has fluctuated by -4.97% over the past month.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
With the market capitalization of Mind Medicine (MindMed) Inc. currently standing at about $136.43 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 09, 2023 – Aug 14, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.54, which is expected to increase to -$0.5 for fiscal year -$2.17 and then to about -$1.84 by fiscal year 2024. Data indicates that the EPS growth is expected to be -17.90% in 2024, while the next year’s EPS growth is forecast to be 15.20%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MNMD’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MNMD currently trading nearly 4.22% and 7.94% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.84, while the 7-day volatility ratio is showing 6.49% which for the 30-day chart, stands at 5.27%. Furthermore, Mind Medicine (MindMed) Inc. (MNMD)’s average true range (ATR) is 0.20.
Data on historical trading for Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) indicates that the trading volumes over the past 10 days have averaged 0.34 million and over the past 3 months, they’ve averaged 394.42K. According to company’s latest data on outstanding shares, there are 38.60 million shares outstanding.
Nearly 14.72% of Mind Medicine (MindMed) Inc.’s shares belong to company insiders and institutional investors own 13.62% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.84 million shares as on May 14, 2023, resulting in a short ratio of 6.29. According to the data, the short interest in Mind Medicine (MindMed) Inc. (MNMD) stood at 7.37% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 2.63 million. The stock has risen by 60.68% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MNMD stock heading into the next quarter.