Surgalign Holdings Inc. [SRGA] Stock trading around $1.50 per share: What’s Next?

Surgalign Holdings Inc. [NASDAQ: SRGA] stock went on an upward path that rose over 0.67% on Tuesday, amounting to a one-week price decrease of less than -6.25%. The company report on June 15, 2021 that Surgalign Holdings, Inc. Announces Closing of $50 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules.

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Surgalign Holdings, Inc. (“Surgalign”) (NASDAQ: SRGA), a global medical technology company focused on elevating the standard of care through the evolution of digital surgery, announced that the closing of its previously announced registered direct offering for the issuance and sale of an aggregate of 28,985,508 shares of its common stock and warrants to purchase up to an aggregate of 28,985,508 shares of its common stock at a purchase price of $1.725 per share of common stock and related warrant. The warrants have an exercise price of $1.725 per share, will be immediately exercisable, and will expire three (3) years from the issuance date. The registered direct offering was priced at-the-market under Nasdaq rules.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

Over the last 12 months, SRGA stock dropped by -50.00%. The average equity rating for SRGA stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $165.51 million, with 98.11 million shares outstanding and 95.43 million shares in the current float. Compared to the average trading volume of 1.62M shares, SRGA stock reached a trading volume of 4380879 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Surgalign Holdings Inc. [SRGA]:

BTIG Research have made an estimate for Surgalign Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 03, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on February 02, 2021, representing the official price target for Surgalign Holdings Inc. stock.

The Average True Range (ATR) for Surgalign Holdings Inc. is set at 0.13, with the Price to Sales ratio for SRGA stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 3.19, with the Price to Cash per share for the same quarter was set at 0.58.

SRGA Stock Performance Analysis:

Surgalign Holdings Inc. [SRGA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.25. With this latest performance, SRGA shares dropped by 0.00% in over the last four-week period, additionally sinking by -40.71% over the last 6 months – not to mention a drop of -50.00% 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 SRGA stock in for the last two-week period is set at 40.12, with the RSI for the last a single of trading hit 37.54, and the three-weeks RSI is set at 41.24 for Surgalign Holdings Inc. [SRGA]. The present Moving Average for the last 50 days of trading for this stock 1.7529, while it was recorded at 1.5060 for the last single week of trading, and 2.0949 for the last 200 days.

Insight into Surgalign Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Surgalign Holdings Inc. [SRGA] shares currently have an operating margin of -77.24 and a Gross Margin at +56.75. Surgalign Holdings Inc.’s Net Margin is presently recorded at -190.86.

Return on Total Capital for SRGA is now -51.72, given the latest momentum, and Return on Invested Capital for the company is -303.69. Return on Equity for this stock declined to -310.35, with Return on Assets sitting at -83.13. When it comes to the capital structure of this company, Surgalign Holdings Inc. [SRGA] has a Total Debt to Total Equity ratio set at 7.65. Additionally, SRGA Total Debt to Total Capital is recorded at 7.11, with Total Debt to Total Assets ending up at 1.51. Long-Term Debt to Equity for the company is recorded at 4.96, with the Long-Term Debt to Total Capital now at 4.61.

Reflecting on the efficiency of the workforce at the company, Surgalign Holdings Inc. [SRGA] managed to generate an average of -$985,761 per employee. Receivables Turnover for the company is 2.08 with a Total Asset Turnover recorded at a value of 0.44.Surgalign Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.20.

SRGA Stock EPS

With the latest financial reports released by the company, Surgalign Holdings Inc. posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at -0.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.50%. 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 SRGA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Surgalign Holdings Inc. go to 15.00%.

Surgalign Holdings Inc. [SRGA] Insider Position Details

There are presently around $91 million, or 67.40% of SRGA stock, in the hands of institutional investors. The top three institutional holders of SRGA stocks are: BLACKROCK INC. with ownership of 6,503,738, which is approximately 32.169% of the company’s market cap and around 7.00% of the total institutional ownership; KRENSAVAGE ASSET MANAGEMENT, LLC, holding 6,449,408 shares of the stock with an approximate value of $9.67 million in SRGA stocks shares; and VANGUARD GROUP INC, currently with $7.62 million in SRGA stock with ownership of nearly 41.064% of the company’s market capitalization.

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Positions in Surgalign Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 73 institutional holders increased their position in Surgalign Holdings Inc. [NASDAQ:SRGA] by around 23,205,912 shares. Additionally, 35 investors decreased positions by around 7,478,459 shares, while 12 investors held positions by with 29,656,413 shares. The mentioned changes placed institutional holdings at 60,340,784 shares, according to the latest SEC report filing. SRGA stock had 25 new institutional investments in for a total of 7,339,444 shares, while 14 institutional investors sold positions of 5,910,109 shares during the same period.

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