CorMedix Inc (NASDAQ:CRMD) price on Friday, December 27, fall -3.41% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.21.
A look at the stock’s price movement, the close in the last trading session was $8.50, moving within a range at $8.06 and $8.49. The beta value (5-Year monthly) was 1.582. Turning to its 52-week performance, $13.85 and $2.89 were the 52-week high and 52-week low respectively. Overall, CRMD moved -16.05% over the past month.
CorMedix Inc’s market cap currently stands at around $498.16 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 19.97M for the company’s revenue for the quarter, with a low and high estimate of 18.6M and 21.5M respectively.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CRMD is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% 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 -8.56% and -19.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.52, while 7-day volatility ratio is 4.36% and 5.45% in the 30-day chart. Further, CorMedix Inc (CRMD) has a beta value of 1.54, and an average true range (ATR) of 0.52. 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 -9.62% off current price level while to achieve the yearly target high, price needs to move -9.62%. Nonetheless, investors will most likely welcome a -9.62% 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 0.94 over the past 10 days and 1.16 million over the past 3 months. The company’s latest data on shares outstanding shows there are 60.68 million shares.
The 1.49% of CorMedix Inc’s shares are in the hands of company insiders while institutional holders own 31.41% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.89 million on 2024-11-29, giving us a short ratio of 5.12. The data shows that as of 2024-11-29 short interest in CorMedix Inc (CRMD) stood at 1137.0 of shares outstanding, with shares short rising to 6.28 million registered in 2024-10-31. Current price change has pushed the stock 118.35% 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.
