IMAC Holdings Inc (NASDAQ: BACK)’s stock price has soared by 2.17 in relation to previous closing price of 1.38. Nevertheless, the company has seen a gain of 11.02% in its stock price over the last five trading days. globenewswire.com reported 2024-09-19 that Nashville, TN, Sept. 19, 2024 (GLOBE NEWSWIRE) — IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC Holdings” or the “Company”), a leader in innovative healthcare solutions, proudly announces the launch of an entirely new precision oncology assay for breast cancer treatment decision making utilizing the Reverse Phase Protein Array (RPPA) technology through its newly established subsidiary, Ignite Proteomics LLC (“Ignite Proteomics”). This launch follows IMAC Holdings’ strategic acquisition of key assets from Theralink Technologies, Inc., and is underscored by a landmark clinical case study “ Proteomics based selection achieves complete response to HER2 therapy in HER2 IHC 0 breast cancer”, demonstrating the power of RPPA technology in precision oncology published in npj Precision Oncology, an international, peer-reviewed journal focused on precision oncology.
Is It Worth Investing in IMAC Holdings Inc (NASDAQ: BACK) Right Now?
The 36-month beta value for BACK is at 0.28. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for BACK is 1.62M, and currently, shorts hold a 1.84% of that float. The average trading volume for BACK on September 19, 2024 was 124.01K shares.
BACK’s Market Performance
The stock of IMAC Holdings Inc (BACK) has seen a 11.02% increase in the past week, with a -19.43% drop in the past month, and a -43.37% fall in the past quarter. The volatility ratio for the week is 12.17%, and the volatility levels for the past 30 days are at 9.98% for BACK. The simple moving average for the past 20 days is -12.15% for BACK’s stock, with a -36.11% simple moving average for the past 200 days.
BACK Trading at -14.78% from the 50-Day Moving Average
After a stumble in the market that brought BACK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -81.81% of loss for the given period.
Volatility was left at 9.98%, however, over the last 30 days, the volatility rate increased by 12.17%, as shares sank -29.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.29% lower at present.
During the last 5 trading sessions, BACK rose by +8.66%, which changed the moving average for the period of 200-days by -32.02% in comparison to the 20-day moving average, which settled at $1.5759. In addition, IMAC Holdings Inc saw -36.20% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for BACK
Current profitability levels for the company are sitting at:
- 1.47 for the present operating margin
- 3.37 for the gross margin
The net margin for IMAC Holdings Inc stands at 2.95. The total capital return value is set at 2.49. Equity return is now at value -237.34, with -131.01 for asset returns.
Currently, EBITDA for the company is -2.54 million with net debt to EBITDA at 0.01. When we switch over and look at the enterprise to sales, we see a ratio of -1.16. The receivables turnover for the company is -2.86for trailing twelve months and the total asset turnover is -2.3. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.42.
Conclusion
In conclusion, IMAC Holdings Inc (BACK) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
