Zomedica Corp. (AMEX: ZOM) stock fell -0.18% on Tuesday to $0.27 against a previous-day closing price of $0.27. With 7.33 million shares changed hands, the volume of the stock remained lighter than its average volume of 9.97 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.2732 whereas the lowest price it dropped to was $0.2650. The 52-week range on ZOM shows that it touched its highest point at $0.50 and its lowest point at $0.15 during that stretch. It currently has a 1-year price target of $6.00. Beta for the stock currently stands at 0.82.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ZOM was down-trending over the past week, with a drop of -7.66%, but this was up by 62.26% over a month. Three-month performance surged to 22.73% while six-month performance rose 8.00%. The stock lost -10.03% in the past year, while it has gained 65.64% so far this year. A look at the trailing 12-month EPS for ZOM yields -0.02 with Next year EPS estimates of -0.17. For the next quarter, that number is -0.01. This implies an EPS growth rate of 58.60% for this year and -750.00% for next year.
Float and Shares Shorts:
At present, 979.95 million ZOM shares are outstanding with a float of 965.42 million shares on hand for trading. On Dec 29, 2022, short shares totaled 88.48 million, which was 9.03% higher than short shares on Nov 29, 2022. In addition to Mr. Larry C. Heaton II as the firm’s Pres & CEO, Ms. Ann Marie Cotter CPA serves as its Chief Financial Officer.
Through their ownership of 9.65% of ZOM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.26% of ZOM, in contrast to 3.17% held by mutual funds. Shares owned by individuals account for 1.58%. As the largest shareholder in ZOM with 4.69% of the stake, The Vanguard Group, Inc. holds 45,958,497 shares worth 45,958,497. A second-largest stockholder of ZOM, BlackRock Fund Advisors, holds 11,286,029 shares, controlling over 1.15% of the firm’s shares. Cambridge Investment Research Adv is the third largest shareholder in ZOM, holding 11,192,160 shares or 1.14% stake. With a 3.42% stake in ZOM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 33,520,591 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.38% of ZOM stock, is the second-largest Mutual Fund holder. It holds 13,497,669 shares valued at 2.2 million. Fidelity Extended Market Index Fu holds 0.53% of the stake in ZOM, owning 5,147,740 shares worth 0.84 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, ZOM reported revenue of $4.25M and operating income of -$5.88M. The EBITDA in the recently reported quarter was -$4.99M and diluted EPS was -$0.01.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ZOM since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ZOM analysts setting a high price target of $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, ZOM could surge 2122.22% to reach the target high and rise by 2122.22% to reach the target low. Reaching the average price target will result in a growth of 2122.22% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ZOM will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$0.02 being high and -$0.02 being low. For ZOM, this leads to a yearly average estimate of -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.01. The average estimate for the next quarter is thus -$0.01.