The stock price of Scilex Holding Company (NASDAQ: SCLX) has surged by 15.80 when compared to previous closing price of 0.86, but the company has seen a 1.79% gain in its stock price over the last five trading sessions. globenewswire.com reported 2024-10-28 that PALO ALTO, Calif., Oct. 28, 2024 (GLOBE NEWSWIRE) — Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it has set a record date of November 7, 2024 (the “Record Date”) for the dividend of Scilex preferred stock (the “Dividend”) to its stockholders and certain other securityholders of Scilex. Subject to the Board’s right to change the Record Date and conditioned upon the effectiveness of the filing of the Certificate of Designation with the Secretary of State of the State of Delaware, the payment date (the “Payment Date”) will be determined by subsequent resolutions of the Board, which will be within 60 days following the Record Date.
Is It Worth Investing in Scilex Holding Company (NASDAQ: SCLX) Right Now?
SCLX has 36-month beta value of 1.17. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for SCLX is 116.21M, and currently, short sellers hold a 10.46% ratio of that float. The average trading volume of SCLX on October 28, 2024 was 1.19M shares.
SCLX’s Market Performance
SCLX’s stock has seen a 1.79% increase for the week, with a 6.05% rise in the past month and a -35.65% fall in the past quarter. The volatility ratio for the week is 12.13%, and the volatility levels for the past 30 days are at 12.23% for Scilex Holding Company The simple moving average for the last 20 days is 12.42% for SCLX stock, with a simple moving average of -25.13% for the last 200 days.
Analysts’ Opinion of SCLX
Many brokerage firms have already submitted their reports for SCLX stocks, with Alliance Global Partners repeating the rating for SCLX by listing it as a “Buy.” The predicted price for SCLX in the upcoming period, according to Alliance Global Partners is $14 based on the research report published on October 16, 2024 of the current year 2024.
Rodman & Renshaw, on the other hand, stated in their research note that they expect to see SCLX reach a price target of $13. The rating they have provided for SCLX stocks is “Buy” according to the report published on June 13th, 2024.
B. Riley Securities gave a rating of “Buy” to SCLX, setting the target price at $4 in the report published on October 16th of the previous year.
SCLX Trading at 0.41% from the 50-Day Moving Average
After a stumble in the market that brought SCLX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -62.07% of loss for the given period.
Volatility was left at 12.23%, however, over the last 30 days, the volatility rate increased by 12.13%, as shares surge +6.11% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.24% lower at present.
During the last 5 trading sessions, SCLX rose by +0.11%, which changed the moving average for the period of 200-days by -48.90% in comparison to the 20-day moving average, which settled at $0.8865. In addition, Scilex Holding Company saw -51.10% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SCLX starting from Followwill Dorman, who purchase 1,000 shares at the price of $0.99 back on Oct 18 ’24. After this action, Followwill Dorman now owns 2,300 shares of Scilex Holding Company, valued at $990 using the latest closing price.
Chun Jay, the Director of Scilex Holding Company, purchase 5,000 shares at $0.95 during a trade that took place back on Oct 18 ’24, which means that Chun Jay is holding 112,500 shares at $4,750 based on the most recent closing price.
Stock Fundamentals for SCLX
Current profitability levels for the company are sitting at:
- -1.95 for the present operating margin
- 0.62 for the gross margin
The net margin for Scilex Holding Company stands at -2.34. The total capital return value is set at 0.66.
Based on Scilex Holding Company (SCLX), the company’s capital structure generated -0.96 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at -0.49. The interest coverage ratio of the stock is -45.77.
Currently, EBITDA for the company is -101.28 million with net debt to EBITDA at -1.05. When we switch over and look at the enterprise to sales, we see a ratio of 5.78. The receivables turnover for the company is 1.34for trailing twelve months and the total asset turnover is 0.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.20.
Conclusion
To put it simply, Scilex Holding Company (SCLX) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as 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.
