Psychemedics (NASDAQ:PMD) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Psychemedics Co. (NASDAQ:PMD) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.36 and traded as high as $2.77. Psychemedics shares last traded at $2.67, with a volume of 113,600 shares.

Psychemedics Trading Down 1.8 %

The company has a market capitalization of $15.73 million, a price-to-earnings ratio of -5.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.59 and a current ratio of 1.59. The business’s 50-day simple moving average is $2.52 and its 200-day simple moving average is $2.36.

Insider Activity

In other news, major shareholder Powell Anderson Capital Partne bought 60,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $1.97 per share, for a total transaction of $118,200.00. Following the purchase, the insider now owns 604,556 shares of the company’s stock, valued at approximately $1,190,975.32. The trade was a 11.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Kamin purchased 1,409,712 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $2.35 per share, with a total value of $3,312,823.20. Following the completion of the purchase, the director now directly owns 1,820,418 shares in the company, valued at approximately $4,277,982.30. This represents a 343.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 1,552,185 shares of company stock valued at $3,650,628 in the last quarter. Company insiders own 13.96% of the company’s stock.

Psychemedics Company Profile

Psychemedics Corporation, together with its subsidiaries, engages in the provision of testing services for the detection of drugs of abuse and other health markers through the analysis of hair samples in the United States and internationally. It offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, and PCP; amphetamines, including ecstasy, eve, and Adderall; opioids, such as heroin metabolite, morphine, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine; synthetic cannabinoids comprising K2, Spice, and Blaze; benzodiazepines consisting of Xanax, Valium, and Ativan; and nicotine, fentanyl and fentanyl analogs, and alcohol.