Acasti Pharma Inc. [ACST] is 44.95% higher this YTD. Is it still time to buy?

Acasti Pharma Inc. [NASDAQ: ACST] stock went on a downward path that fall over -7.63% on Tuesday, amounting to a one-week price decrease of less than -17.35%. The company report on March 9, 2021 that Acasti Pharma Provides Update on Recent Financing Activities.

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As required pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or the “Company”) (NASDAQ: ACST – TSX-V: ACST) is providing an update on the use of its “at-the market” equity offering program.

As previously disclosed, Acasti entered into an amended and restated ATM sales agreement on June 29, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. and H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement an “at-the market” equity offering program under which Acasti may issue and sell from time to time its common shares having an aggregate offering price of up to $75 million through the Agents (the “ATM Program”). Pursuant to the ATM Program, as required pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the last distributions reported on January 27, 2021, Acasti issued an aggregate of 20,159,229 common shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate gross proceeds to the Company of US$21.7 million. The ATM Shares were sold at prevailing market prices averaging US$1.0747 per share. No securities were sold through the facilities of the TSXV or, to the knowledge of the Company, in Canada. The ATM Shares were sold pursuant to a U.S. registration statement on Form S-3 (No. 333-239538) as made effective on July 7, 2020, as well as the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0% on the aggregate gross proceeds raised was paid to the Agents in connection with their services. As a result of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and outstanding as of March 5, 2021.

Over the last 12 months, ACST stock rose by 8.80%. The average equity rating for ACST stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $94.28 million, with 200.12 million shares outstanding and 179.14 million shares in the current float. Compared to the average trading volume of 30.54M shares, ACST stock reached a trading volume of 10389095 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Acasti Pharma Inc. [ACST]:

Oppenheimer have made an estimate for Acasti Pharma Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on September 01, 2020. The new note on the price target was released on July 06, 2020, representing the official price target for Acasti Pharma Inc. stock.

The Average True Range (ATR) for Acasti Pharma Inc. is set at 0.06, with the Price to Sales ratio for ACST stock in the period of the last 12 months amounting to 1163.91. The Price to Book ratio for the last quarter was 2.86.

ACST Stock Performance Analysis:

Acasti Pharma Inc. [ACST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.35. With this latest performance, ACST shares dropped by -34.93% in over the last four-week period, additionally plugging by 130.37% over the last 6 months – not to mention a rise of 8.80% 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 ACST stock in for the last two-week period is set at 32.07, with the RSI for the last a single of trading hit 24.57, and the three-weeks RSI is set at 37.72 for Acasti Pharma Inc. [ACST]. The present Moving Average for the last 50 days of trading for this stock 0.7256, while it was recorded at 0.5201 for the last single week of trading, and 0.4997 for the last 200 days.

Insight into Acasti Pharma Inc. Fundamentals:

Return on Total Capital for ACST is now -198.39, given the latest momentum, and Return on Invested Capital for the company is -216.98. Return on Equity for this stock declined to -217.64, with Return on Assets sitting at -86.29. When it comes to the capital structure of this company, Acasti Pharma Inc. [ACST] has a Total Debt to Total Equity ratio set at 1.13. Additionally, ACST Total Debt to Total Capital is recorded at 1.12, with Total Debt to Total Assets ending up at 0.64. Long-Term Debt to Equity for the company is recorded at 0.55, with the Long-Term Debt to Total Capital now at 0.54.

Acasti Pharma Inc. [ACST] Insider Position Details

There are presently around $2 million, or 2.22% of ACST stock, in the hands of institutional investors. The top three institutional holders of ACST stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 1,924,000, which is approximately New of the company’s market cap and around 2.70% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 687,985 shares of the stock with an approximate value of $0.32 million in ACST stocks shares; and TWO SIGMA ADVISERS, LP, currently with $0.14 million in ACST stock with ownership of nearly 1.022% of the company’s market capitalization.

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Positions in Acasti Pharma Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 16 institutional holders increased their position in Acasti Pharma Inc. [NASDAQ:ACST] by around 3,068,438 shares. Additionally, 7 investors decreased positions by around 140,310 shares, while 10 investors held positions by with 966,013 shares. The mentioned changes placed institutional holdings at 4,174,761 shares, according to the latest SEC report filing. ACST stock had 11 new institutional investments in for a total of 2,367,948 shares, while 6 institutional investors sold positions of 138,310 shares during the same period.

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