Enveric Biosciences Inc. [ENVB] is -0.94% lower this YTD. Is it still time to buy?

Enveric Biosciences Inc. [NASDAQ: ENVB] stock went on a downward path that fall over -13.35% on Tuesday, amounting to a one-week price increase of more than 8.21%. The company report on January 12, 2021 that Enveric Biosciences Inc. Announces $10 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules.

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Enveric Biosciences Inc. (NASDAQ: ENVB), a patient-first biotechnology company developing novel cannabinoid medicines to improve quality of life for cancer patients, announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 2,221,358 shares of Enveric’s common stock and common stock equivalents, at a purchase price of $4.5018 per share, in a registered direct offering priced at-the-market under Nasdaq rules. Enveric has also agreed to issue to the investors unregistered warrants to acquire 1,666,019 shares of Common Stock at $4.9519 per share, exercisable immediately and terminating five years after the date of issuance. The closing of the offering is expected to occur on or about January 14th, 2021, subject to the satisfaction of customary closing conditions.

The gross proceeds to Enveric from this offering are expected to be approximately $10 million, before deducting advisory and other offering expenses. Enveric intends to use the net proceeds from this offering for working capital and general corporate purposes.

Over the last 12 months, ENVB stock dropped by -42.97%.

The market cap for the stock reached $8.36 million, with 5.29 million shares outstanding and 1.72 million shares in the current float. Compared to the average trading volume of 575.15K shares, ENVB stock reached a trading volume of 2567891 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Enveric Biosciences Inc. [ENVB]:

The Average True Range (ATR) for Enveric Biosciences Inc. is set at 1.38, with the Price to Sales ratio for ENVB stock in the period of the last 12 months amounting to 0.24. The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 1.41.

ENVB Stock Performance Analysis:

Enveric Biosciences Inc. [ENVB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.21. With this latest performance, ENVB shares dropped by -33.65% in over the last four-week period, additionally sinking by -40.06% over the last 6 months – not to mention a drop of -42.97% 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 ENVB stock in for the last two-week period is set at 43.92, with the RSI for the last a single of trading hit 42.17, and the three-weeks RSI is set at 45.12 for Enveric Biosciences Inc. [ENVB]. The present Moving Average for the last 50 days of trading for this stock 5.84, while it was recorded at 4.47 for the last single week of trading, and 5.70 for the last 200 days.

Insight into Enveric Biosciences Inc. Fundamentals:

Enveric Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Enveric Biosciences Inc. [ENVB] Insider Position Details

There are presently around $0 million, or 0.60% of ENVB stock, in the hands of institutional investors. The top three institutional holders of ENVB stocks are: GEODE CAPITAL MANAGEMENT, LLC with ownership of 2,697, which is approximately 0% of the company’s market cap and around 8.24% of the total institutional ownership; ADVISOR GROUP HOLDINGS, INC., holding 1,000 shares of the stock with an approximate value of $5000.0 in ENVB stocks shares; and WELLS FARGO & COMPANY/MN, currently with $0.0 in ENVB stock with ownership of nearly 66.667% of the company’s market capitalization.

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2 institutional holders increased their position in Enveric Biosciences Inc. [NASDAQ:ENVB] by around 1,002 shares. Additionally, 3 investors decreased positions by around 11,802 shares, while 2 investors held positions by with 9,102 shares. The mentioned changes placed institutional holdings at 3,702 shares, according to the latest SEC report filing. ENVB stock had 2 new institutional investments in for a total of 1,000 shares, while 3 institutional investors sold positions of 11,802 shares during the same period.

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