IMAC Holdings Inc. (NASDAQ: BACK) stock fell -4.64% on Thursday to $0.13 against a previous-day closing price of $0.14. With 0.8 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.64 million shares. During the session, the Medical Care Facilities company that operates in wider Healthcare sector, reached to the highest price of $0.1424 whereas the lowest price it dropped to was $0.1289. The 52-week range on BACK shows that it touched its highest point at $1.19 and its lowest point at $0.10 during that stretch. It currently has a 1-year price target of $1.50. Beta for the stock currently stands at 0.02.
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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 BACK was down-trending over the past week, with a drop of -10.70%, but this was down by -7.80% over a month. Three-month performance dropped to -32.46% while six-month performance fell -59.02%. The stock lost -87.40% in the past year, while it has lost -33.03% so far this year. A look at the trailing 12-month EPS for BACK yields -0.63 with Next year EPS estimates of -0.16. For the next quarter, that number is -0.05. This implies an EPS growth rate of -38.60% for this year and 20.00% for next year.
Float and Shares Shorts:
At present, 33.01 million BACK shares are outstanding with a float of 26.47 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.13 million, which was 3.43% higher than short shares on Mar 30, 2023. In addition to Mr. Jeffrey S. Ervin M.B.A. as the firm’s Chairman & CEO, Dr. Matthew C. Wallis serves as its Pres & Exec. Director.
Through their ownership of 16.06% of BACK’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.18% of BACK, in contrast to 13.91% held by mutual funds. Shares owned by individuals account for 0.78%. As the largest shareholder in BACK with 5.12% of the stake, Kestra Advisory Services LLC holds 1,691,504 shares worth 1,691,504. A second-largest stockholder of BACK, Nantahala Capital Management LLC, holds 1,040,075 shares, controlling over 3.15% of the firm’s shares. Woodbury Financial Services, Inc. is the third largest shareholder in BACK, holding 906,115 shares or 2.74% stake. With a 0.35% stake in BACK, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 113,989 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.19% of BACK stock, is the second-largest Mutual Fund holder. It holds 62,631 shares valued at 8330.0. Fidelity Nasdaq Composite Index F holds 0.17% of the stake in BACK, owning 54,807 shares worth 7289.0.
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 Mar 30, 2023, BACK reported revenue of $5.03M and operating income of -$1.77M. The EBITDA in the recently reported quarter was -$1.37M and diluted EPS was -$0.07.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BACK since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BACK analysts setting a high price target of $1.25 and a low target of $1.25, the average target price over the next 12 months is $1.25. Based on these targets, BACK could surge 861.54% to reach the target high and rise by 861.54% to reach the target low. Reaching the average price target will result in a growth of 861.54% 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.
Summary of Insider Activity:
Insiders traded BACK stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 300,000 while 37,000 shares were sold.