BIMI International Medical Inc. [NASDAQ: BIMI] loss -10.20% or -0.08 points to close at $0.71 with a heavy trading volume of 5300663 shares. The company report on November 18, 2021 that BIMI International Medical Inc. Announces Pricing of $7.8 million Private Placement.
BIMI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the “Company”), a healthcare products and services provider, announced that it has entered into a Securities Purchase Agreement (the “SPA”) with two institutional investors (the “Holders”) to sell certain senior secured convertible notes of the Company in a private placement in the aggregate principal amount of $7,800,000 in the aggregate original principal amount of $6,500,000, representing an aggregate original issue discount of 20% (the “Convertible Notes”). The Convertible Notes do not bear interest except upon the occurrence of certain events of default.
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Pursuant to the SPA, the Convertible Notes will be issued to the Holders, together with 4-year warrants to acquire 1,800,000 shares of the Company’s common stock (the “Warrants”), subject to certain adjustments. The Warrants are exercisable at any time or times after the Stockholder Approval Date (as defined below) in whole or in part, at the option of the holders thereof, for shares of the common stock for an exercise price of $0.71. Under the SPA, the Company agreed to hold a stockholder meeting, by no later than February 15, 2022 (the “Stockholder Approval Date”) to approve resolutions authorizing the issuance of shares of common stock under the Convertible Notes and the Warrants for the purposes of compliance with the stockholder approval rules of the Nasdaq Stock Market. If such approval is not received by the Stockholder Approval Date, the Company is obligated to continue to secure such stockholder approval by May 15, 2022 and every six months thereafter until such approval is obtained.
It opened the trading session at $0.78, the shares rose to $0.8461 and dropped to $0.70, the range by which the price of stock traded the whole day. The daily chart for BIMI points out that the company has recorded -42.20% loss over the past six months. However, it is still -33.96% lower than its most recent low trading price.
If we look at the average trading volume of 8.01M shares, BIMI reached to a volume of 5300663 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about BIMI International Medical Inc. [BIMI]:
The Average True Range (ATR) for BIMI International Medical Inc. is set at 0.22, with the Price to Sales ratio for BIMI stock in the period of the last 12 months amounting to 0.93. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 0.00.
Trading performance analysis for BIMI stock
BIMI International Medical Inc. [BIMI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.19. With this latest performance, BIMI shares gained by 4.13% in over the last four-week period, additionally sinking by -42.20% over the last 6 months – not to mention a drop of -60.44% 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 BIMI stock in for the last two-week period is set at 47.19, with the RSI for the last a single of trading hit 44.39, and the three-weeks RSI is set at 48.07 for BIMI International Medical Inc. [BIMI]. The present Moving Average for the last 50 days of trading for this stock 0.7334, while it was recorded at 0.8669 for the last single week of trading, and 1.2131 for the last 200 days.
BIMI International Medical Inc. [BIMI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and BIMI International Medical Inc. [BIMI] shares currently have an operating margin of -29.68 and a Gross Margin at +19.02. BIMI International Medical Inc.’s Net Margin is presently recorded at -30.40.
Return on Total Capital for BIMI is now -24.96, given the latest momentum, and Return on Invested Capital for the company is -29.88. Return on Equity for this stock declined to -30.76, with Return on Assets sitting at -12.35. When it comes to the capital structure of this company, BIMI International Medical Inc. [BIMI] has a Total Debt to Total Equity ratio set at 30.12. Additionally, BIMI Total Debt to Total Capital is recorded at 23.15, with Total Debt to Total Assets ending up at 15.16. Long-Term Debt to Equity for the company is recorded at 4.45, with the Long-Term Debt to Total Capital now at 3.42.
Reflecting on the efficiency of the workforce at the company, BIMI International Medical Inc. [BIMI] managed to generate an average of -$17,591 per employee. Receivables Turnover for the company is 3.08 with a Total Asset Turnover recorded at a value of 0.41.BIMI International Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.
An analysis of insider ownership at BIMI International Medical Inc. [BIMI]
There are presently around $1 million, or 3.30% of BIMI stock, in the hands of institutional investors. The top three institutional holders of BIMI stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 429,776, which is approximately 93.641% of the company’s market cap and around 13.80% of the total institutional ownership; HUDSON BAY CAPITAL MANAGEMENT LP, holding 347,882 shares of the stock with an approximate value of $0.25 million in BIMI stocks shares; and CVI HOLDINGS, LLC, currently with $0.19 million in BIMI stock with ownership of nearly 314.283% of the company’s market capitalization.
Positions in BIMI International Medical Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 5 institutional holders increased their position in BIMI International Medical Inc. [NASDAQ:BIMI] by around 796,251 shares. Additionally, 4 investors decreased positions by around 81,188 shares, while 1 investors held positions by with 343,888 shares. The mentioned changes placed institutional holdings at 1,221,327 shares, according to the latest SEC report filing. BIMI stock had 2 new institutional investments in for a total of 351,960 shares, while 3 institutional investors sold positions of 79,412 shares during the same period.