Nemaura Medical Inc (NASDAQ: NMRD) stock fell -5.52% on Monday to $0.24 against a previous-day closing price of $0.25. With 66164.0 shares changed hands, the volume of the stock remained lighter than its average volume of 0.23 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.2623 whereas the lowest price it dropped to was $0.2362. The 52-week range on NMRD shows that it touched its highest point at $3.43 and its lowest point at $0.23 during that stretch. It currently has a 1-year price target of $8.50. Beta for the stock currently stands at 0.39.
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 NMRD was down-trending over the past week, with a drop of -0.08%, but this was down by -23.46% over a month. Three-month performance dropped to -47.51% while six-month performance fell -64.21%. The stock lost -88.42% in the past year, while it has lost -86.24% so far this year. A look at the trailing 12-month EPS for NMRD yields -0.38 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.12. This implies an EPS growth rate of 22.81% for this year and 2.27% for next year.
Float and Shares Shorts:
At present, 28.90 million NMRD shares are outstanding with a float of 14.94 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.19 million, which was 0.64% higher than short shares on Sep 28, 2023. In addition to Dr. Dewan Fazlul Hoque Chowdhury Ph.D. as the firm’s Chairman, CEO, President, Interim Principal Financial & Accounting Officer, Dr. Arash Ghadar serves as its Chief Operating Officer.
Through their ownership of 11.25% of NMRD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.80% of NMRD, in contrast to 41.19% held by mutual funds. Shares owned by individuals account for 0.91%. As the largest shareholder in NMRD with 6.38% of the stake, Alyeska Investment Group LP holds 1,842,565 shares worth 1,842,565. A second-largest stockholder of NMRD, The Vanguard Group, Inc., holds 126,682 shares, controlling over 0.44% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in NMRD, holding 107,897 shares or 0.37% stake. With a 0.44% stake in NMRD, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 126,682 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.23% of NMRD stock, is the second-largest Mutual Fund holder. It holds 67,468 shares valued at 17609.0. Incrementum All Seasons Fund holds 0.09% of the stake in NMRD, owning 24,728 shares worth 6454.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NMRD 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 NMRD analysts setting a high price target of $8.50 and a low target of $8.50, the average target price over the next 12 months is $8.50. Based on these targets, NMRD could surge 3441.67% to reach the target high and rise by 3441.67% to reach the target low. Reaching the average price target will result in a growth of 3441.67% from current levels.
Summary of Insider Activity:
Insiders traded NMRD 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 remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.