Moreover, the 36-month beta value for CRMD is 1.58. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CRMD is 54.85M and currently, short sellers hold a 18.44% of that float. On September 20, 2024, CRMD’s average trading volume was 681.61K shares.
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CRMD) stock’s latest price update
CorMedix Inc (NASDAQ: CRMD)’s stock price has decreased by -3.24 compared to its previous closing price of 7.24. However, the company has seen a 2.19% increase in its stock price over the last five trading sessions. globenewswire.com reported 2024-09-13 that BERKELEY HEIGHTS, N.J., Sept. 13, 2024 (GLOBE NEWSWIRE) — CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases, today announced that management will be participating in a fireside chat and investor meetings at the 2024 Cantor Healthcare Conference, being held in New York, NY on September 17 – 19, 2024.
CRMD’s Market Performance
CRMD’s stock has risen by 2.19% in the past week, with a monthly rise of 39.64% and a quarterly rise of 58.24%. The volatility ratio for the week is 6.03% while the volatility levels for the last 30 days are 7.88% for CorMedix Inc The simple moving average for the past 20 days is 13.40% for CRMD’s stock, with a 57.95% simple moving average for the past 200 days.
Analysts’ Opinion of CRMD
Many brokerage firms have already submitted their reports for CRMD stocks, with Rodman & Renshaw repeating the rating for CRMD by listing it as a “Buy.” The predicted price for CRMD in the upcoming period, according to Rodman & Renshaw is $13 based on the research report published on August 26, 2024 of the current year 2024.
RBC Capital Mkts, on the other hand, stated in their research note that they expect to see CRMD reach a price target of $6. The rating they have provided for CRMD stocks is “Outperform” according to the report published on August 10th, 2023.
Needham gave a rating of “Buy” to CRMD, setting the target price at $31 in the report published on February 17th of the previous year.
CRMD Trading at 34.87% from the 50-Day Moving Average
After a stumble in the market that brought CRMD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.40% of loss for the given period.
Volatility was left at 7.88%, however, over the last 30 days, the volatility rate increased by 6.03%, as shares surge +39.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +57.53% upper at present.
During the last 5 trading sessions, CRMD rose by +2.19%, which changed the moving average for the period of 200-days by +109.25% in comparison to the 20-day moving average, which settled at $6.28. In addition, CorMedix Inc saw 86.44% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRMD starting from Todisco Joseph, who purchase 13,561 shares at the price of $3.74 back on Mar 13 ’24. After this action, Todisco Joseph now owns 352,839 shares of CorMedix Inc, valued at $50,718 using the latest closing price.
DUNTON ALAN W, the Director of CorMedix Inc, purchase 3,000 shares at $3.45 during a trade that took place back on Dec 14 ’23, which means that DUNTON ALAN W is holding 12,250 shares at $10,350 based on the most recent closing price.
Stock Fundamentals for CRMD
Current profitability levels for the company are sitting at:
- -52.37 for the present operating margin
- -0.29 for the gross margin
The net margin for CorMedix Inc stands at -47.84. The total capital return value is set at -1.25. Equity return is now at value -111.55, with -92.57 for asset returns.
Based on CorMedix Inc (CRMD), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -85.46. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -1612.34.
Currently, EBITDA for the company is -48.75 million with net debt to EBITDA at 0.49. When we switch over and look at the enterprise to sales, we see a ratio of 327.53. The receivables turnover for the company is 1.57for trailing twelve months and the total asset turnover is 0.02. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.79.
Conclusion
To wrap up, the performance of CorMedix Inc (CRMD) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
