IMAC Holdings Inc. [IMAC] Revenue clocked in at $13.50 million, up 21.05% YTD: What’s Next?



IMAC Holdings Inc. [NASDAQ: IMAC] price surged by 18.97 percent to reach at $0.22. The company report on January 4, 2022 that IMAC Holdings, Inc. to Present at H.C. Wainwright BIOCONNECT Virtual Conference.

IMAC Holdings, Inc. (Nasdaq: IMAC) today announced that Jeffrey Ervin, Chief Executive Officer of IMAC, will present at the H.C. Wainwright BIOCONNECT Virtual Conference taking place January 10-13, 2022. The on-demand presentation will be available beginning at 7:00 a.m. ET on January 10, 2022.

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A sum of 3209279 shares traded at recent session while its average daily volume was at 61.56K shares. IMAC Holdings Inc. shares reached a high of $1.44 and dropped to a low of $1.15 until finishing in the latest session at $1.38.

The one-year IMAC stock forecast points to a potential upside of 61.67. The average equity rating for IMAC stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on IMAC Holdings Inc. [IMAC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IMAC shares is $3.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IMAC stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Alliance Global Partners have made an estimate for IMAC Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 17, 2020. While these analysts kept the previous recommendation, Ascendiant Capital Markets raised their target price to Buy. The new note on the price target was released on April 15, 2020, representing the official price target for IMAC Holdings Inc. stock.

The Average True Range (ATR) for IMAC Holdings Inc. is set at 0.08, with the Price to Sales ratio for IMAC stock in the period of the last 12 months amounting to 2.70. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 0.42.

IMAC Stock Performance Analysis:

IMAC Holdings Inc. [IMAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.01. With this latest performance, IMAC shares gained by 10.40% in over the last four-week period, additionally sinking by -28.50% over the last 6 months – not to mention a drop of -13.75% 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 IMAC stock in for the last two-week period is set at 68.20, with the RSI for the last a single of trading hit 76.94, and the three-weeks RSI is set at 61.78 for IMAC Holdings Inc. [IMAC]. The present Moving Average for the last 50 days of trading for this stock 1.2702, while it was recorded at 1.1870 for the last single week of trading, and 1.5604 for the last 200 days.

Insight into IMAC Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and IMAC Holdings Inc. [IMAC] shares currently have an operating margin of -53.67 and a Gross Margin at -10.90. IMAC Holdings Inc.’s Net Margin is presently recorded at -38.98.

Return on Total Capital for IMAC is now -41.41, given the latest momentum, and Return on Invested Capital for the company is -31.47. Return on Equity for this stock declined to -48.94, with Return on Assets sitting at -24.92. When it comes to the capital structure of this company, IMAC Holdings Inc. [IMAC] has a Total Debt to Total Equity ratio set at 87.59. Additionally, IMAC Total Debt to Total Capital is recorded at 46.69, with Total Debt to Total Assets ending up at 46.27. Long-Term Debt to Equity for the company is recorded at 52.85, with the Long-Term Debt to Total Capital now at 28.18.

Reflecting on the efficiency of the workforce at the company, IMAC Holdings Inc. [IMAC] managed to generate an average of -$35,998 per employee. Receivables Turnover for the company is 9.26 with a Total Asset Turnover recorded at a value of 0.64.IMAC Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

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IMAC Holdings Inc. [IMAC] Insider Position Details

There are presently around $5 million, or 17.30% of IMAC stock, in the hands of institutional investors. The top three institutional holders of IMAC stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 2,414,310, which is approximately -2.398% of the company’s market cap and around 0.60% of the total institutional ownership; ADVISOR GROUP HOLDINGS, INC., holding 723,609 shares of the stock with an approximate value of $0.84 million in IMAC stocks shares; and VANGUARD GROUP INC, currently with $0.65 million in IMAC stock with ownership of nearly 0.947% of the company’s market capitalization.

Positions in IMAC Holdings Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 12 institutional holders increased their position in IMAC Holdings Inc. [NASDAQ:IMAC] by around 348,076 shares. Additionally, 6 investors decreased positions by around 360,193 shares, while 4 investors held positions by with 3,826,705 shares. The mentioned changes placed institutional holdings at 4,534,974 shares, according to the latest SEC report filing. IMAC stock had 6 new institutional investments in for a total of 229,304 shares, while 3 institutional investors sold positions of 251,462 shares during the same period.