InMed Pharmaceuticals Inc (NASDAQ:INM) price is hovering lower current market day and dropping -4.01% below its previous close.
A look at today’s price movement shows that the recent level at last check reads $0.43, with intraday deals fluctuating between $0.3751 and $0.4317. The company’s 5Y monthly beta was ticking 0.597. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.08 and 52-week low of $0.12. The stock added 60.43% on its value in the past month.
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InMed Pharmaceuticals Inc, which has a market valuation of $1.38 million, is expected to release its quarterly earnings report on 2022-Sep-23.
On average, analysts have forecast the company’s revenue for the quarter will hit 1.79M, with the likely lows of 1.79M and highs of 1.79M. The average estimate suggests sales growth for the quarter will likely fall by -22.60% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 5.42M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 31.00% above that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give INM a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned INM a recommendation rating as follows: 0 rate it as a Hold; 1 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the InMed Pharmaceuticals Inc (INM) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that INM’s price is at present 117.09% off the SMA20 and 79.77% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 75.34, with weekly volatility standing at 29.16%. The indicator jumps to 17.85% when calculated based on the past 30 days. InMed Pharmaceuticals Inc (NASDAQ:INM)’s beta value is holding at 0.68, while the average true range (ATR) indicator is currently reading 0.07.
An analysis of the InMed Pharmaceuticals Inc (NASDAQ:INM) stock in terms of its daily trading volume indicates that the 3-month average is 6.72 million. However, this figure increases on the past 10-day timeline to an average of 33.95 million.
Current records show that the company has 3.33M in outstanding shares. The insiders’ percentage holdings are 1.06% of outstanding shares while the percentage share held by institutions stands at 13.23%. The stats also highlight that short interest as of 2024-07-31, stood at 0.25 million shares, which puts the short ratio at the time at 0.12. From this we can glean that short interest is 284.00 of company’s current outstanding shares. Notably, we see that shares short in July rose slightly given the previous month’s figure stood at 84651.0. But the -0.50% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.
