CorMedix Inc (NASDAQ:CRMD) price on Friday, October 25, rose 4.57% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.04.
A look at the stock’s price movement, the close in the last trading session was $12.47, moving within a range at $12.38 and $13.49. The beta value (5-Year monthly) was 1.607. Turning to its 52-week performance, $12.67 and $2.57 were the 52-week high and 52-week low respectively. Overall, CRMD moved 58.44% over the past month.
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CorMedix Inc’s market cap currently stands at around $753.19 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Oct-30.
Analysts have a consensus estimate of 10.84M for the company’s revenue for the quarter, with a low and high estimate of 9.4M and 12.06M respectively.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CRMD is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 1 recommend CRMD as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRMD’s current price about 28.18% and 64.93% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 92.53, while 7-day volatility ratio is 6.97% and 5.57% in the 30-day chart. Further, CorMedix Inc (CRMD) has a beta value of 1.60, and an average true range (ATR) of 0.58. Analysts have given the company’s stock an average 52-week price target of $9, forecast between a low of $9 and high of $9. Looking at the price targets, the low is 30.98% off current price level while to achieve the yearly target high, price needs to move 30.98%. Nonetheless, investors will most likely welcome a 30.98% jump to $9 which is the analysts’ median price.
If we refocus on CorMedix Inc (NASDAQ:CRMD), historical trading data shows that trading volumes averaged 1.1 over the past 10 days and 929.69K over the past 3 months. The company’s latest data on shares outstanding shows there are 57.76 million shares.
The 1.56% of CorMedix Inc’s shares are in the hands of company insiders while institutional holders own 29.58% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.27 million on 2024-09-30, giving us a short ratio of 9.45. The data shows that as of 2024-09-30 short interest in CorMedix Inc (CRMD) stood at 1660.0001 of shares outstanding, with shares short falling to 10.11 million registered in 2024-08-30. Current price change has pushed the stock 246.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRMD stock continues to rise going into the next quarter.
