why IMAC Holdings Inc. [IMAC] is a Good Choice for Investors After New Price Target of $3.68


IMAC Holdings Inc. [NASDAQ: IMAC] stock went on an upward path that rose over 22.30% on Thursday, amounting to a one-week price increase of more than 30.02%. The company report on May 13, 2022 that IMAC Holdings Reports Increased Revenue for the Fourth Consecutive Quarter.

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IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today reported its preliminary financial results for the first quarter ended March 31, 2022.

Over the last 12 months, IMAC stock dropped by -40.23%. The one-year IMAC Holdings Inc. stock forecast points to a potential upside of 71.74. The average equity rating for IMAC stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $26.56 million, with 26.37 million shares outstanding and 21.88 million shares in the current float. Compared to the average trading volume of 777.73K shares, IMAC stock reached a trading volume of 23563100 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $3.68 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 0.09, with the Price to Sales ratio for IMAC stock in the period of the last 12 months amounting to 1.84. The Price to Book ratio for the last quarter was 1.82, with the Price to Cash per share for the same quarter was set at 0.17.

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 30.02. With this latest performance, IMAC shares gained by 23.81% in over the last four-week period, additionally sinking by -18.75% over the last 6 months – not to mention a drop of -40.23% 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 69.25, with the RSI for the last a single of trading hit 80.04, and the three-weeks RSI is set at 61.79 for IMAC Holdings Inc. [IMAC]. The present Moving Average for the last 50 days of trading for this stock 0.9030, while it was recorded at 0.8691 for the last single week of trading, and 1.2165 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 1.30 and a Current Ratio set at 1.30.

IMAC Holdings Inc. [IMAC] Insider Position Details

There are presently around $4 million, or 16.90% 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 2,241,113, which is approximately -6.312% 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 $0.61 million in IMAC stocks shares; and VANGUARD GROUP INC, currently with $0.47 million in IMAC stock with ownership of nearly 0% of the company’s market capitalization.

6 institutional holders increased their position in IMAC Holdings Inc. [NASDAQ:IMAC] by around 163,712 shares. Additionally, 6 investors decreased positions by around 238,386 shares, while 8 investors held positions by with 3,992,169 shares. The mentioned changes placed institutional holdings at 4,394,267 shares, according to the latest SEC report filing. IMAC stock had 1 new institutional investments in for a total of 15,690 shares, while 1 institutional investors sold positions of 12,299 shares during the same period.