Protagenic Therapeutics Inc. [NASDAQ: PTIX] surged by $0.3 during the normal trading session on Friday and reaching a high of $4.19 during the day while it closed the day at $2.97. 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.
Protagenic Therapeutics Inc. stock has also gained 16.93% of its value over the past 7 days. However, PTIX stock has inclined by 158.26% in the 3 months of the year. Over the past six months meanwhile, it has lost -82.77% and gained 182.86% year-on date.
The market cap for PTIX stock reached $39.09 million, with 10.52 million shares outstanding and 6.82 million shares in the current float. Compared to the average trading volume of 5.22M shares, PTIX reached a trading volume of 22892367 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 Protagenic Therapeutics Inc. [PTIX]:
The Average True Range (ATR) for Protagenic Therapeutics Inc. is set at 0.53
PTIX stock trade performance evaluation
Protagenic Therapeutics Inc. [PTIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.93. With this latest performance, PTIX shares dropped by -1.00% in over the last four-week period, additionally sinking by -82.77% over the last 6 months – not to mention a drop of -80.79% 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 55.42, with the RSI for the last a single of trading hit 63.53, and the three-weeks RSI is set at 52.15 for Protagenic Therapeutics Inc. [PTIX]. The present Moving Average for the last 50 days of trading for this stock 3.53, while it was recorded at 2.60 for the last single week of trading.
Protagenic Therapeutics Inc. [PTIX]: An insightful look at the core fundamentals
Additionally, PTIX Total Debt to Total Capital is recorded at 613.14, with Total Debt to Total Assets ending up at 156.25.
Reflecting on the efficiency of the workforce at the company, Protagenic Therapeutics Inc. [PTIX] managed to generate an average of -$1,274,367 per employee.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.