Enveric Biosciences Inc. [ENVB] is -30.28% lower this YTD. Is it still time to buy?

Enveric Biosciences Inc. [NASDAQ: ENVB] price surged by 5.32 percent to reach at $0.15. The company report on September 9, 2021 that Enveric Biosciences Announces MagicMed Industries’ Presentations at the Following Investor Conferences in September.

Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a patient-first biotechnology company developing novel cannabinoid medicines to improve quality of life for cancer patients, announced that Dr. Joseph Tucker, MagicMed Industries’ (“MagicMed”) Chief Executive Officer, is scheduled to present at the H.C. Wainwright 23rd Annual Global Investment Conference and Virtual Gravitas Health Reimagined Investor Day.

Dr. Tucker’s H.C. Wainwright 23rd Annual Global Investment Conference presentation will be available on-demand beginning Monday, September 13th at 7:00 a.m. ET. To attend please register here.

A sum of 9212442 shares traded at recent session while its average daily volume was at 3.14M shares. Enveric Biosciences Inc. shares reached a high of $3.54 and dropped to a low of $2.68 until finishing in the latest session at $2.97.

Guru’s Opinion on Enveric Biosciences Inc. [ENVB]:

The Average True Range (ATR) for Enveric Biosciences Inc. is set at 0.35 The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 0.95.

ENVB Stock Performance Analysis:

Enveric Biosciences Inc. [ENVB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.81. With this latest performance, ENVB shares gained by 72.67% in over the last four-week period, additionally sinking by -20.80% over the last 6 months – not to mention a drop of -33.11% 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 62.56, with the RSI for the last a single of trading hit 61.60, and the three-weeks RSI is set at 61.58 for Enveric Biosciences Inc. [ENVB]. The present Moving Average for the last 50 days of trading for this stock 2.11, while it was recorded at 3.16 for the last single week of trading, and 3.30 for the last 200 days.

Insight into Enveric Biosciences Inc. Fundamentals:

Enveric Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.40 and a Current Ratio set at 18.40.

Enveric Biosciences Inc. [ENVB] Insider Position Details

There are presently around $4 million, or 6.00% of ENVB stock, in the hands of institutional investors. The top three institutional holders of ENVB stocks are: BLACKROCK INC. with ownership of 509,482, which is approximately -9.589% of the company’s market cap and around 25.53% of the total institutional ownership; VANGUARD GROUP INC, holding 181,583 shares of the stock with an approximate value of $0.54 million in ENVB stocks shares; and VIRTU FINANCIAL LLC, currently with $0.54 million in ENVB stock with ownership of nearly 1623.93% of the company’s market capitalization.

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15 institutional holders increased their position in Enveric Biosciences Inc. [NASDAQ:ENVB] by around 436,839 shares. Additionally, 5 investors decreased positions by around 104,184 shares, while 1 investors held positions by with 734,876 shares. The mentioned changes placed institutional holdings at 1,275,899 shares, according to the latest SEC report filing. ENVB stock had 7 new institutional investments in for a total of 158,669 shares, while 3 institutional investors sold positions of 41,431 shares during the same period.

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