AeroClean Technologies Inc. [NASDAQ: AERC] stock went on an upward path that rose over 13.91% on Monday, amounting to a one-week price decrease of less than -21.78%. The company report on June 27, 2022 that AeroClean Technologies, Inc. Announces $15.0 Million Private Placement.
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AeroClean Technologies, Inc. (“AeroClean” or the “Company”) (Nasdaq: AERC), announced today that it has entered into a securities purchase agreement with a single institutional investor for the purchase of 1,500,000 shares of its common stock and warrants to purchase up to an aggregate of 1,500,000 shares of common stock in a private placement. The purchase price for one share of common stock and a warrant to purchase one share of common stock is $10.00. The warrants have an exercise price of $11.00 per share. Warrants with respect to 1.26 million shares will become exercisable on the earlier of the effective date of a registration statement related to the transaction or the 90th day following the closing. The remainder of the warrants will become exercisable following shareholder approval of the transaction. The warrants will expire five years from the initial exercise date.
The gross proceeds from the private placement are expected to be $15.0 million. The private placement is expected to close on or about June 29, 2022, subject to the satisfaction of customary closing conditions.
The one-year AeroClean Technologies Inc. stock forecast points to a potential downside of -104.71. The average equity rating for AERC stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $187.87 million, with 13.88 million shares outstanding and 4.06 million shares in the current float. Compared to the average trading volume of 8.38M shares, AERC stock reached a trading volume of 16943557 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on AeroClean Technologies Inc. [AERC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AERC shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AERC stock is a recommendation set at 2.00. 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.
The Benchmark Company have made an estimate for AeroClean Technologies Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 14, 2022.
The Average True Range (ATR) for AeroClean Technologies Inc. is set at 3.65, with the Price to Sales ratio for AERC stock in the period of the last 12 months amounting to 304.72. The Price to Book ratio for the last quarter was 10.02, with the Price to Cash per share for the same quarter was set at 1.36.
AERC Stock Performance Analysis:
AeroClean Technologies Inc. [AERC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.78. With this latest performance, AERC shares gained by 575.94% in over the last four-week period, additionally plugging by 12.22% over the last 6 months.
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 AERC stock in for the last two-week period is set at 59.42, with the RSI for the last a single of trading hit 56.94, and the three-weeks RSI is set at 60.23 for AeroClean Technologies Inc. [AERC]. The present Moving Average for the last 50 days of trading for this stock 5.83, while it was recorded at 14.07 for the last single week of trading.
Insight into AeroClean Technologies Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and AeroClean Technologies Inc. [AERC] shares currently have an operating margin of -1337.16 and a Gross Margin at +45.03. AeroClean Technologies Inc.’s Net Margin is presently recorded at -1285.23.
AeroClean Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.90 and a Current Ratio set at 15.50.
AeroClean Technologies Inc. [AERC] Insider Position Details
There are presently around $0 million, or 0.30% of AERC stock, in the hands of institutional investors. The top three institutional holders of AERC stocks are: STATE STREET CORP with ownership of 14,290, which is approximately New of the company’s market cap and around 70.72% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 10,296 shares of the stock with an approximate value of $0.13 million in AERC stocks shares; and BLACKROCK INC., currently with $68000.0 in AERC stock with ownership of nearly New of the company’s market capitalization.
Positions in AeroClean Technologies 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 AeroClean Technologies Inc. [NASDAQ:AERC] by around 34,344 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 2,874 shares. The mentioned changes placed institutional holdings at 37,218 shares, according to the latest SEC report filing. AERC stock had 6 new institutional investments in for a total of 30,693 shares, while 0 institutional investors sold positions of 0 shares during the same period.