HighTower Advisors LLC recently announced the acquisition of new stake in Cingulate Inc. (NASDAQ:CING). This fresh investment now brings its stake to 0.30% valued currently at $61621.0. In addition, Sterneck Capital Management LLC raised its holdings by 14144.0 to 14144.0 shares.
With over 4.07 million Cingulate Inc. (CING) shares trading Friday and a closing price of $1.85 on the day, the dollar volume was approximately $7.52 million. The shares have shown a positive half year performance of 24.16% and its price on 03/10/23 gained nearly 25.00%. Currently, there are 11.31M common shares owned by the public and among those 7.50M 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 CING have a consensus price objective of $5.67. The analysts have set the share’s price value over the next 12 months at a high of $8.50 and a low of $3.00. The average price target is 68.54% above its recent price level and an upside to the estimated low will see the stock gain 38.33% over that period. But an upside of 78.24% will see the stock hit the forecast high price target while median target price for the stock is $5.50.
Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 380,981 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 17,732 shares.
Shares of Cingulate Inc. (NASDAQ: CING) opened at $1.74, up $0.26 from a prior closing price of $1.48. However, the script later moved the day high at 1.9000, up 25.00%. The company’s stock has a 5-day price change of 37.04% and 90.72% over the past three months. CING shares are trading 85.00% year to date (YTD), with the 12-month market performance up to 40.15% higher. It has a 12-month low price of $0.66 and touched a high of $2.20 over the same period. CING has an average intraday trading volume of 797.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 41.28%, 66.03%, and 51.55% respectively.
Institutional ownership of Cingulate Inc. (NASDAQ: CING) shares accounts for 2.30% of the company’s 11.31M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for 31.73% and — respectively.
It has a market capitalization of $16.71M. The earnings-per-share (ttm) stands at -$1.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.83% over the week and 13.90% over the month.
Analysts forecast that Cingulate Inc. (CING) will achieve an EPS of -$0.37 for the current quarter, -$0.36 for the next quarter and -$1.26 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.25. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -695.20%, and 12.50% 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 Cingulate Inc. (CING) 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.”
