Protagenic Therapeutics Inc. [NASDAQ: PTIX] price plunged by -1.10 percent to reach at -$0.03. The company report on April 30, 2021 that Protagenic Therapeutics, Inc. Announces Closing of $13.2 Million Public Offering and Uplisting to Nasdaq.
Protagenic Therapeutics, Inc. (NASDAQ:PTIX) (“PTIX” or “Company”) announced the closing of an underwritten public offering of 3,180,000 units at a public offering price of $4.15 per unit. Each unit is comprised of one share of common stock and one warrant to purchase one share of common stock. Each warrant is exercisable at a price of $4.98 per share and will expire five years from issuance. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 477,000 units at the public offering price less the underwriting discounts and commissions. The common stock and warrants comprising the units separated upon closing of the offering and were issued separately.
The common stock and warrants began trading on the Nasdaq Capital Market on April 27, 2021, under the symbols “PTIX” and “PTIXW,” respectively. The Company received gross proceeds of approximately $13.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
A sum of 22938768 shares traded at recent session while its average daily volume was at 5.24M shares. Protagenic Therapeutics Inc. shares reached a high of $4.00 and dropped to a low of $2.51 until finishing in the latest session at $2.69.
Guru’s Opinion on Protagenic Therapeutics Inc. [PTIX]:
The Average True Range (ATR) for Protagenic Therapeutics Inc. is set at 0.56
PTIX Stock Performance Analysis:
Protagenic Therapeutics Inc. [PTIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.33. With this latest performance, PTIX shares gained by 20.09% in over the last four-week period, additionally sinking by -82.60% over the last 6 months – not to mention a drop of -82.60% 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 PTIX stock in for the last two-week period is set at 48.11, with the RSI for the last a single of trading hit 52.78, and the three-weeks RSI is set at 47.91 for Protagenic Therapeutics Inc. [PTIX]. The present Moving Average for the last 50 days of trading for this stock 3.66, while it was recorded at 2.37 for the last single week of trading.
Insight into Protagenic Therapeutics Inc. Fundamentals:
Protagenic Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.