Sunday, February 28, 2021

For Titan Medical Inc. [TMDI], Analyst sees a rise to $6. What next?

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Titan Medical Inc. [NASDAQ: TMDI] price surged by 52.41 percent to reach at $0.98. The company report on January 12, 2021 that Titan Medical Announces Filing of Preliminary Short Form Prospectus.

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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, announced that it has filed a preliminary short form prospectus with applicable securities regulators in Ontario, British Columbia and Alberta in connection with its previously announced offering of 6,451,613 units of the Company (“Units”) on a “bought deal” basis, at a price of US$1.55 per Unit (the “Offering Price”) for aggregate gross proceeds of US$10,000,000 (the “Offering”). Bloom Burton Securities Inc. (the “Underwriter”) will act as underwriter for the Offering.

A sum of 34357710 shares traded at recent session while its average daily volume was at 1.33M shares. Titan Medical Inc. shares reached a high of $3.18 and dropped to a low of $2.05 until finishing in the latest session at $2.85.

Guru’s Opinion on 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 0.24, with the Price to Sales ratio for TMDI stock in the period of the last 12 months amounting to 23.42. The Price to Book ratio for the last quarter was 61.96.

TMDI Stock Performance Analysis:

Titan Medical Inc. [TMDI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 69.64. With this latest performance, TMDI shares gained by 114.29% in over the last four-week period, additionally plugging by 197.37% over the last 6 months – not to mention a rise of 467.62% 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 83.01, with the RSI for the last a single of trading hit 87.33, and the three-weeks RSI is set at 80.06 for Titan Medical Inc. [TMDI]. The present Moving Average for the last 50 days of trading for this stock 1.32, while it was recorded at 2.04 for the last single week of trading, and 0.84 for the last 200 days.

Insight into Titan Medical Inc. Fundamentals:

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.

Titan Medical Inc. [TMDI] Insider Position Details

There are presently around $5 million, or 3.29% 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 $0.41 million in TMDI stocks shares; and ACCREDITED INVESTORS INC., currently with $0.32 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 March and at the time of the March reporting period, where 17 institutional holders increased their position in Titan Medical Inc. [NASDAQ:TMDI] by around 291,075 shares. Additionally, 18 investors decreased positions by around 2,697,814 shares, while 20 investors held positions by with 314,224 shares. The mentioned changes placed institutional holdings at 2,674,665 shares, according to the latest SEC report filing. TMDI stock had 4 new institutional investments in for a total of 42,799 shares, while 13 institutional investors sold positions of 2,633,219 shares during the same period.

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