LogicMark, Inc. (NASDAQ:LGMK) Sees Significant Decline in Short Interest

LogicMark, Inc. (NASDAQ:LGMK) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 100,400 shares, a decline of 97.4% from the October 31st total of 3,810,000 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is currently 0.1 days. Approximately 20.5% of the shares of the stock are short sold.

LogicMark Stock Down 0.3 %

Shares of NASDAQ LGMK traded down $0.01 during midday trading on Friday, reaching $1.78. 85,355 shares of the company traded hands, compared to its average volume of 336,063. LogicMark has a 12 month low of $1.64 and a 12 month high of $32.48. The stock’s 50-day simple moving average is $2.88 and its 200-day simple moving average is $9.02.

LogicMark (NASDAQ:LGMK) last announced its earnings results on Tuesday, November 12th. The company reported ($5.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($10.75) by $5.75. The business had revenue of $2.71 million during the quarter, compared to analysts’ expectations of $2.44 million. LogicMark had a negative net margin of 141.96% and a negative return on equity of 124.91%. During the same quarter last year, the company posted ($27.50) EPS. As a group, equities research analysts expect that LogicMark will post -54.25 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Winvest Investment Fund Manage bought 13,444 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $2.50 per share, for a total transaction of $33,610.00. Following the transaction, the insider now directly owns 37,828 shares of the company’s stock, valued at $94,570. This represents a 55.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.47% of the stock is owned by company insiders.

About LogicMark

LogicMark, Inc provides personal emergency response systems (PERS), health communications devices, and Internet of Things (IoT) technology that creates a connected care platform in the United States. The company’s devices provide people with the ability to receive care at home and age independently and to check, manage, and monitor a loved one’s health and safety remotely.