Enveric Biosciences Inc. [ENVB] is 2.58% higher this YTD. Is it still time to buy?

Enveric Biosciences Inc. [NASDAQ: ENVB] loss -7.02% on the last trading session, reaching $4.37 price per share at the time. The company report on February 12, 2021 that Enveric Biosciences Inc. Announces Closing of $12.8 Million Registered Direct Offering of Common Stock.

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Enveric Biosciences, Inc. (NASDAQ: ENVB) (“Enveric” or the “Company”), a patient-first biotechnology company developing novel cannabinoid medicines to improve quality of life for cancer patients, announced the closing on February 11, 2021 of its previously announced registered direct offering of 3,007,026 shares of its common stock, at a purchase price of $4.27 per share for gross proceeds of approximately $12,840,000. Enveric has also issued to the investors unregistered warrants to acquire 1,503,513 shares of common stock at $4.90 per share, exercisable immediately and terminating five years after the date of issuance.

The net proceeds to Enveric from this offering are approximately $11.5 million after deducting financial advisory fees and other costs and expenses of the offering. Enveric intends to use the net proceeds from this offering for working capital and general corporate purposes.

Enveric Biosciences Inc. represents 5.29 million in outstanding shares, while the company has a total market value of $86.22 million with the latest information. ENVB stock price has been found in the range of $4.32 to $4.71.

If compared to the average trading volume of 1.68M shares, ENVB reached a trading volume of 1675960 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 Enveric Biosciences Inc. [ENVB]:

The Average True Range (ATR) for Enveric Biosciences Inc. is set at 0.51, with the Price to Sales ratio for ENVB stock in the period of the last 12 months amounting to 2.44. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 0.14.

Trading performance analysis for ENVB stock

Enveric Biosciences Inc. [ENVB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.27. With this latest performance, ENVB shares gained by 7.90% in over the last four-week period, additionally sinking by -32.14% over the last 6 months – not to mention a drop of -15.96% 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 47.57, with the RSI for the last a single of trading hit 47.18, and the three-weeks RSI is set at 47.52 for Enveric Biosciences Inc. [ENVB]. The present Moving Average for the last 50 days of trading for this stock 5.18, while it was recorded at 4.60 for the last single week of trading, and 5.76 for the last 200 days.

Enveric Biosciences Inc. [ENVB]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Enveric Biosciences Inc. [ENVB]

There are presently around $0 million, or 0.20% of ENVB stock, in the hands of institutional investors. The top three institutional holders of ENVB stocks are: VANGUARD GROUP INC with ownership of 12,183, which is approximately New of the company’s market cap and around 3.10% of the total institutional ownership; CITADEL ADVISORS LLC, holding 10,199 shares of the stock with an approximate value of $45000.0 in ENVB stocks shares; and ADVISOR GROUP HOLDINGS, INC., currently with $4000.0 in ENVB stock with ownership of nearly 0% of the company’s market capitalization.

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4 institutional holders increased their position in Enveric Biosciences Inc. [NASDAQ:ENVB] by around 22,391 shares. Additionally, 2 investors decreased positions by around 13,960 shares, while 1 investors held positions by with 12,955 shares. The mentioned changes placed institutional holdings at 23,396 shares, according to the latest SEC report filing. ENVB stock had 3 new institutional investments in for a total of 22,383 shares, while 2 institutional investors sold positions of 13,960 shares during the same period.

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