Artelo Biosciences Inc. [NASDAQ: ARTL] surged by $0.38 during the normal trading session on Wednesday and reaching a high of $2.13 during the day while it closed the day at $1.82. The company report on February 8, 2021 that Artelo Biosciences Receives $3.0 Million in Net Proceeds from Exercise of Warrants.
Artelo Biosciences, Inc. (NASDAQ: ARTL), a clinical stage biopharmaceutical company developing therapeutics that modulate endogenous signaling pathways, including the endocannabinoid system, announced the exercise of a portion of the warrants from its October 2020 financing. Existing investors agreed to exercise warrants for net proceeds of approximately $3 million.
“The proceeds from the exercise of these warrants strengthen our balance sheet and based on our most recently reported financial results as of November 30, 2020 bring our pro-forma cash balance to approximately $10.4 million,” stated Gregory Gorgas, Artelo’s President and Chief Executive Officer. “We intend to utilize this capital towards achieving milestones we believe have the potential to generate significant value for our shareholders.”.
Artelo Biosciences Inc. stock has also gained 42.19% of its value over the past 7 days. However, ARTL stock has inclined by 246.86% in the 3 months of the year. Over the past six months meanwhile, it has gained 54.24% and gained 149.32% year-on date.
The market cap for ARTL stock reached $30.08 million, with 15.71 million shares outstanding and 12.69 million shares in the current float. Compared to the average trading volume of 4.23M shares, ARTL reached a trading volume of 25614123 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Artelo Biosciences Inc. [ARTL]:
The Average True Range (ATR) for Artelo Biosciences Inc. is set at 0.21 The Price to Book ratio for the last quarter was 2.04, with the Price to Cash per share for the same quarter was set at 0.45.
ARTL stock trade performance evaluation
Artelo Biosciences Inc. [ARTL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.19. With this latest performance, ARTL shares gained by 78.43% in over the last four-week period, additionally plugging by 54.24% over the last 6 months – not to mention a rise of 28.17% 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 ARTL stock in for the last two-week period is set at 80.26, with the RSI for the last a single of trading hit 83.96, and the three-weeks RSI is set at 77.35 for Artelo Biosciences Inc. [ARTL]. The present Moving Average for the last 50 days of trading for this stock 0.8784, while it was recorded at 1.3920 for the last single week of trading, and 0.9786 for the last 200 days.
Artelo Biosciences Inc. [ARTL]: An insightful look at the core fundamentals
Return on Total Capital for ARTL is now -100.38, given the latest momentum, and Return on Invested Capital for the company is -99.72. Return on Equity for this stock declined to -99.72, with Return on Assets sitting at -85.73.
Reflecting on the efficiency of the workforce at the company, Artelo Biosciences Inc. [ARTL] managed to generate an average of -$1,551,621 per employee.Artelo Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.40 and a Current Ratio set at 15.40.
Earnings per share (EPS) analysis for Artelo Biosciences Inc. [ARTL] stock
With the latest financial reports released by the company, Artelo Biosciences Inc. posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARTL.
Artelo Biosciences Inc. [ARTL]: Insider Ownership positions
Positions in Artelo Biosciences Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 2 institutional holders increased their position in Artelo Biosciences Inc. [NASDAQ:ARTL] by around 233 shares. Additionally, 2 investors decreased positions by around 14,923 shares, while 0 investors held positions by with 14,905 shares. The mentioned changes placed institutional holdings at 251 shares, according to the latest SEC report filing. ARTL stock had 1 new institutional investments in for a total of 162 shares, while 2 institutional investors sold positions of 14,923 shares during the same period.