UBS Securities LLC recently announced the acquisition of new stake in Nemaura Medical Inc. (NASDAQ:NMRD). The institutional investor has increased its shareholding in the Healthcare company by 6,641.18% to 5730.0 shares with purchase of 5645.0 shares. This fresh investment now brings its stake to 0.02% valued currently at $9838.0.
With over 0.17 million Nemaura Medical Inc. (NMRD) shares trading Tuesday and a closing price of $2.45 on the day, the dollar volume was approximately $0.43 million. The shares have shown a positive half year performance of 35.36% and its price on 01/24/23 gained nearly 17.22%. Currently, there are 24.10M common shares owned by the public and among those 9.85M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for NMRD have a consensus price objective of $9.50. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $7.50. The average price target is 74.21% above its recent price level and an upside to the estimated low will see the stock gain 67.33% over that period. But an upside of 81.15% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 22,293 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Nemaura Medical Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Incrementum All Seasons Fund. Vanguard Extended Market Index Fu owns 0.13 million shares of the company’s stock, all valued at over $0.22 million. The company bought an additional 285.0 shares recently to bring their total holdings to about 0.53% of the shares outstanding. Incrementum All Seasons Fund sold 10.0 shares to bring its total holdings to over 25878.0 shares at a value of $44433.0. Incrementum All Seasons Fund now owns shares totaling to 0.11% of the shares outstanding.
Shares of Nemaura Medical Inc. (NASDAQ: NMRD) opened at $2.28, up $0.19 from a prior closing price of $2.09. However, the script later moved the day high at 2.8499, up 17.22%. The company’s stock has a 5-day price change of 39.60% and 10.86% over the past three months. NMRD shares are trading 42.68% year to date (YTD), with the 12-month market performance down to -43.02% lower. It has a 12-month low price of $1.50 and touched a high of $4.58 over the same period. NMRD has an average intraday trading volume of 7.21K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 34.20%, 22.71%, and 2.07% respectively.
Institutional ownership of Nemaura Medical Inc. (NASDAQ: NMRD) shares accounts for 3.50% of the company’s 24.10M shares outstanding. Mutual fund holders own 2.30%, while other institutional holders and individual stakeholders account for 49.39% and 1.22% respectively.
It has a market capitalization of $50.23M and a beta (3y monthly) value of 0.01. The earnings-per-share (ttm) stands at -$0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.25% over the week and 9.21% over the month.
Analysts forecast that Nemaura Medical Inc. (NMRD) will achieve an EPS of -$0.17 for the current quarter, -$0.16 for the next quarter and -$0.48 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.16. Comparatively, EPS for the current quarter was -$0.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -111.40%, and 11.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Nemaura Medical Inc. (NMRD) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NMRD, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on March 29, 2022, with the firm’s price target at $12.
