Renaissance Technologies LLC has recently announced that it has increased stake in IMAC Holdings Inc. (NASDAQ:BACK) by 387.20%. After grabbing 0.16 million shares, the institutional investor is now in possession of 0.13 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.48% having worth around $20942.0. Moreover, G1 Execution Services LLC increased its share by 78582.0 to have a control over 0.14 million shares. And Virtu Financial BD LLC raised its holdings to 68770.0 shares by acquiring 68770.0 shares or 0.21% of the stake.
IMAC Holdings Inc. (BACK) concluded trading on 05/24/23 at a closing price of $0.14, with 1.69 million shares of worth about $0.24 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -56.49% during that period and on Wednesday the price saw a loss of about -12.44%. Currently the company’s common shares owned by public are about 33.01M shares, out of which, 26.47M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the BACK stock and their offered price forecasts bring an average price target of $1.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $1.25 and could fall to a lowest price of $1.25. The stock’s current price level is 90.67% above of average price target set by the analysts, while a rise to estimated low would result in gain of 88.8% for the stock. However, touching the estimated high of $1.25 would mean a gain of 88.8% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 4 times over the past 12 months. They bought 300,000 shares in 3 of the transactions. In 1 selling transactions, insiders dumped 37,000 shares.
Fidelity Extended Market Index Fu, Vanguard Extended Market Index Fu, and Fidelity Nasdaq Composite Index F are the top 3 mutual funds which are holding stakes in IMAC Holdings Inc. Fidelity Extended Market Index Fu is currently holding 0.11 million shares of worth totaling $15161.0. The company recently came buying 0.0 shares which brought its stake up to 0.35% of the company’s outstanding shares. Fidelity Nasdaq Composite Index F, after buying 54807.0 shares, have now control over 0.17% of the stake in the company. It holds 0.0 shares of worth $7289.0.
IMAC Holdings Inc. (NASDAQ: BACK) started trading at $0.149, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 0.1501, or with a loss of -12.44%. Stock saw a price change of -9.61% in past 5 days and over the past one month there was a price change of 1.52%. Year-to-date (YTD), BACK shares are showing a performance of -29.77% which decreased to -87.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.10 but also hit the highest price of $1.19 during that period. The average intraday trading volume for IMAC Holdings Inc. shares is 2.62 million. The stock is currently trading -9.55% below its 20-day simple moving average (SMA20), while that difference is down -8.52% for SMA50 and it goes to -54.63% lower than SMA200.
Renaissance Technologies LLC acquired 0.16 million shares of IMAC Holdings Inc. having value of about $20942.0. Data submitted at the U.S SEC by Renaissance Technologies LLC revealed that the firm now holds 0.13 million shares in the company valued at close to $17519.32, or have control over 387.20% stake in the company. IMAC Holdings Inc. (NASDAQ: BACK) currently have 33.01M outstanding shares and institutions hold larger chunk of about 16.00% of that. Holding of mutual funds in the company is about 13.91% while other institutional holders and individual stake holders have control over 9.18% and 0.78% of the stake respectively.
The stock has a current market capitalization of $4.80M and its 3Y-monthly beta is at 0.02. It has posted earnings per share of -$0.63 in the same period. It has Quick Ratio of 0.50 while making debt-to-equity ratio of 0.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BACK, volatility over the week remained 16.61% while standing at 14.22% over the month.
Analysts are in expectations that IMAC Holdings Inc. (BACK) stock would likely to be making an EPS of -$0.03 in the current quarter, while forecast for next quarter EPS is -$0.04 and it is -$0.11 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is -$0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -38.60% while it is estimated to increase by 20.00% in next year.
Analysts at 1 brokerage firms have issued recommendations for the IMAC Holdings Inc. (BACK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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