Titan Medical Inc. [TMDI] Revenue clocked in at $10.00 million, up 140.40% YTD: What’s Next?

Titan Medical Inc. [NASDAQ: TMDI] gained 20.20% on the last trading session, reaching $1.19 price per share at the time. The company report on November 16, 2020 that Titan Medical Reports Third Quarter Financial Results.

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Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of surgical technologies for robotic single access surgery, announces financial results for the three and nine months ended September 30, 2020, highlighted by the Company’s improved cash position, which, as of September 30, 2020, reflects a positive difference of approximately $24 million compared to its cash position at December 31, 2019.

All financial results are prepared in accordance with International Accounting Standards (“IAS”) 34 on a basis consistent with the Company’s 2019 annual financial statements and are reported in U.S. dollars, unless otherwise stated. The unaudited condensed interim consolidated financial statements and management’s discussion and analysis for the period ended September 30, 2020 may be viewed at www.sedar.com and at www.sec.gov.

Titan Medical Inc. represents 82.18 million in outstanding shares, while the company has a total market value of $97.80 million with the latest information. TMDI stock price has been found in the range of $0.9898 to $1.38.

If compared to the average trading volume of 492.71K shares, TMDI reached a trading volume of 5568714 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Titan Medical Inc. [TMDI]:

Piper Jaffray have made an estimate for Titan Medical Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 22, 2019.

The Average True Range (ATR) for Titan Medical Inc. is set at 0.08, with the Price to Sales ratio for TMDI stock in the period of the last 12 months amounting to 9.78. The Price to Book ratio for the last quarter was 25.87.

Trading performance analysis for TMDI stock

Titan Medical Inc. [TMDI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 58.67. With this latest performance, TMDI shares gained by 61.05% in over the last four-week period, additionally plugging by 310.34% over the last 6 months – not to mention a rise of 80.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TMDI stock in for the last two-week period is set at 87.49, with the RSI for the last a single of trading hit 92.49, and the three-weeks RSI is set at 81.11 for Titan Medical Inc. [TMDI]. The present Moving Average for the last 50 days of trading for this stock 0.7423, while it was recorded at 0.9030 for the last single week of trading, and 0.6149 for the last 200 days.

Titan Medical Inc. [TMDI]: A deeper dive into fundamental analysis

Reflecting on the efficiency of the workforce at the company, Titan Medical Inc. [TMDI] managed to generate an average of -$5,560,640 per employee.

An analysis of insider ownership at Titan Medical Inc. [TMDI]

There are presently around $3 million, or 3.31% of TMDI stock, in the hands of institutional investors. The top three institutional holders of TMDI stocks are: MASTERS CAPITAL MANAGEMENT LLC with ownership of 1,500,000, which is approximately 0% of the company’s market cap and around 0.31% of the total institutional ownership; TWO SIGMA ADVISERS, LP, holding 220,600 shares of the stock with an approximate value of $0.26 million in TMDI stocks shares; and ACCREDITED INVESTORS INC., currently with $0.2 million in TMDI stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Titan Medical Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 21 institutional holders increased their position in Titan Medical Inc. [NASDAQ:TMDI] by around 383,263 shares. Additionally, 18 investors decreased positions by around 2,681,285 shares, while 18 investors held positions by with 306,329 shares. The mentioned changes placed institutional holdings at 2,758,219 shares, according to the latest SEC report filing. TMDI stock had 7 new institutional investments in for a total of 121,713 shares, while 12 institutional investors sold positions of 2,616,684 shares during the same period.

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