IMAC Holdings Inc. [IMAC] moved up 19.00: Why It’s Important


IMAC Holdings Inc. [NASDAQ: IMAC] price surged by 19.00 percent to reach at $0.19. The company report on April 7, 2022 that IMAC Holdings Completes Walmart Pilot Program, Affirms Commitment to Growth.

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The Company plans to add 20 locations in the next 12 months .

IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), today announces the successful completion of its pilot program for The Back Space retail chiropractic concept located in select Walmart stores. As a result, the Company is committed to tripling its store count with at least 20 additional locations over the next twelve months with a further goal of adding significantly more stores over the next three years. The Company expects the new stores to be a combination of corporate and The Back Company franchise locations to address market demand.

A sum of 33690798 shares traded at recent session while its average daily volume was at 126.26K shares. IMAC Holdings Inc. shares reached a high of $1.46 and dropped to a low of $1.07 until finishing in the latest session at $1.19.

The one-year IMAC stock forecast points to a potential upside of 66.94. 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 0.10, with the Price to Sales ratio for IMAC stock in the period of the last 12 months amounting to 2.27. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.44.

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 15.53. With this latest performance, IMAC shares gained by 17.82% in over the last four-week period, additionally sinking by -17.93% over the last 6 months – not to mention a drop of -31.21% 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 66.81, with the RSI for the last a single of trading hit 74.43, and the three-weeks RSI is set at 60.86 for IMAC Holdings Inc. [IMAC]. The present Moving Average for the last 50 days of trading for this stock 1.0662, while it was recorded at 1.0580 for the last single week of trading, and 1.3473 for the last 200 days.

Insight into IMAC Holdings Inc. Fundamentals:

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.

IMAC Holdings Inc. [IMAC] Insider Position Details

There are presently around $4 million, or 17.10% 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 2,392,094, which is approximately -0.92% of the company’s market cap and around 1.60% of the total institutional ownership; ADVISOR GROUP HOLDINGS, INC., holding 723,609 shares of the stock with an approximate value of $0.72 million in IMAC stocks shares; and VANGUARD GROUP INC, currently with $0.56 million in IMAC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in IMAC Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 8 institutional holders increased their position in IMAC Holdings Inc. [NASDAQ:IMAC] by around 51,195 shares. Additionally, 5 investors decreased positions by around 105,949 shares, while 8 investors held positions by with 4,311,797 shares. The mentioned changes placed institutional holdings at 4,468,941 shares, according to the latest SEC report filing. IMAC stock had 3 new institutional investments in for a total of 29,627 shares, while 2 institutional investors sold positions of 38,834 shares during the same period.