Zomedica Corp. (AMEX: ZOM) stock jumped 7.90% on Monday to $0.17 against a previous-day closing price of $0.16. With 3.31 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.2 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.1741 whereas the lowest price it dropped to was $0.1652. The 52-week range on ZOM shows that it touched its highest point at $0.34 and its lowest point at $0.15 during that stretch. Beta for the stock currently stands at 0.99.
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 -3.34%, but this was down by -10.10% over a month. Three-month performance dropped to -17.38% while six-month performance fell -8.68%. The stock lost -29.76% in the past year, while it has gained 6.44% so far this year. A look at the trailing 12-month EPS for ZOM yields -0.02 with Next year EPS estimates of 0.00.
Float and Shares Shorts:
At present, 979.95 million ZOM shares are outstanding with a float of 966.01 million shares on hand for trading. On Aug 30, 2023, short shares totaled 70.32 million, which was 7.18% higher than short shares on Jul 30, 2023. In addition to Mr. Larry C. Heaton II as the firm’s Pres, CEO & Director, Mr. Adrian Lock serves as its VP, GM & Head of Sales.
Through their ownership of 9.74% of ZOM’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.33% of ZOM, in contrast to 3.57% held by mutual funds. Shares owned by individuals account for 1.59%. As the largest shareholder in ZOM with 4.94% of the stake, The Vanguard Group, Inc. holds 48,437,481 shares worth 48,437,481. A second-largest stockholder of ZOM, BlackRock Fund Advisors, holds 11,476,273 shares, controlling over 1.17% of the firm’s shares. Cambridge Investment Research Adv is the third largest shareholder in ZOM, holding 11,257,560 shares or 1.15% stake. With a 3.44% stake in ZOM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 33,687,896 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.36% of ZOM stock, is the second-largest Mutual Fund holder. It holds 13,318,083 shares valued at 2.46 million. Fidelity Extended Market Index Fu holds 0.52% of the stake in ZOM, owning 5,043,574 shares worth 0.93 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 Jun 29, 2023, 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 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 ZOM analysts setting a high price target of $0.44 and a low target of $0.44, the average target price over the next 12 months is $0.44. Based on these targets, ZOM could surge 158.82% to reach the target high and rise by 158.82% to reach the target low. Reaching the average price target will result in a growth of 158.82% 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 ZOM 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 4 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 400,000 while 0 shares were sold.