CorMedix Inc. (NASDAQ:CRMD) shares, rose in value on Friday, 05/13/22, with the stock price up by 9.73% to the previous day’s close as strong demand from buyers drove the stock to $3.27.
Actively observing the price movement in the last trading, the stock closed the session at $2.98, falling within a range of $3.08 and $3.33. The value of beta (5-year monthly) was 2.47. Referring to stock’s 52-week performance, its high was $8.38, and the low was $2.87. On the whole, CRMD has fluctuated by -36.26% over the past month.
With the market capitalization of CorMedix Inc. currently standing at about $128.94 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2022 – Apr 01, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.23, which is expected to increase to -$0.21 for fiscal year -$0.8 and then to about -$1.11 by fiscal year 2022. Data indicates that the EPS growth is expected to be -3.90% in 2022, while the next year’s EPS growth is forecast to be -38.80%.
According to the average forecast, sales growth in current quarter could jump down -64.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $120k, representing a decrease of -49.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CRMD’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CRMD currently trading nearly -13.54% and -29.17% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.56, while the 7-day volatility ratio is showing 9.82% which for the 30-day chart, stands at 7.60%. Furthermore, CorMedix Inc. (CRMD)’s beta value is 2.40, and its average true range (ATR) is 0.29.
Data on historical trading for CorMedix Inc. (NASDAQ:CRMD) indicates that the trading volumes over the past 10 days have averaged 0.32 million and over the past 3 months, they’ve averaged 334.30K. According to company’s latest data on outstanding shares, there are 38.12 million shares outstanding.
Nearly 0.80% of CorMedix Inc.’s shares belong to company insiders and institutional investors own 34.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.97 million shares as on Dec 14, 2021, resulting in a short ratio of 10.75. According to the data, the short interest in CorMedix Inc. (CRMD) stood at 5.18% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 1.95 million. The stock has fallen by -28.13% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRMD stock heading into the next quarter.