Acutus Medical Inc. [AFIB] Stock trading around $1.65 per share: What’s Next?


Acutus Medical Inc. [NASDAQ: AFIB] stock went on an upward path that rose over 18.71% on Thursday, amounting to a one-week price increase of more than 55.66%. The company report on July 21, 2022 that Acutus Medical Announces CEO Appointment and Preliminary Second Quarter Revenue Results.

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Acutus Medical, Inc. (“Acutus” or the “Company”) (Nasdaq: AFIB), an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated, today announced that David Roman has been appointed President and Chief Executive Officer, and member of the Board of Directors, effective immediately. The Company also announced preliminary second quarter revenue results.

“Since being appointed interim CEO, David has hit the ground running with an intense focus on reinvigorating the Company’s strategy, driving operational improvements, and successfully completing the first close of our left-heart access portfolio sale to Medtronic and debt refinancing,” said Scott Huennekens, Chairman of the Acutus Board of Directors. “As the Board considered the needs of the Company, we determined that this focus as well as David’s performance over the past two months made him the right person to lead Acutus moving forward. In addition, David has demonstrated strong and engaging leadership with the senior management team as well as the Board, and we are confident in David’s ability to drive long-term growth and value creation at Acutus.”.

Over the last 12 months, AFIB stock dropped by -88.55%. The one-year Acutus Medical Inc. stock forecast points to a potential upside of 47.12. The average equity rating for AFIB stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $43.81 million, with 28.12 million shares outstanding and 26.24 million shares in the current float. Compared to the average trading volume of 4.70M shares, AFIB stock reached a trading volume of 8256644 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Acutus Medical Inc. [AFIB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AFIB shares is $3.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AFIB 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.

JP Morgan have made an estimate for Acutus Medical Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on November 15, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on October 22, 2021, representing the official price target for Acutus Medical Inc. stock. Previously, the target price had yet another raise from $11 to $18, while Canaccord Genuity kept a Buy rating on AFIB stock. On March 19, 2021, analysts decreased their price target for AFIB shares from 39 to 19.

The Average True Range (ATR) for Acutus Medical Inc. is set at 0.19, with the Price to Sales ratio for AFIB stock in the period of the last 12 months amounting to 2.52. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 2.81.

AFIB Stock Performance Analysis:

Acutus Medical Inc. [AFIB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 55.66. With this latest performance, AFIB shares gained by 211.14% in over the last four-week period, additionally sinking by -32.93% over the last 6 months – not to mention a drop of -88.55% 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 AFIB stock in for the last two-week period is set at 76.79, with the RSI for the last a single of trading hit 82.86, and the three-weeks RSI is set at 71.13 for Acutus Medical Inc. [AFIB]. The present Moving Average for the last 50 days of trading for this stock 0.8165, while it was recorded at 1.2800 for the last single week of trading, and 2.7180 for the last 200 days.

Insight into Acutus Medical Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Acutus Medical Inc. [AFIB] shares currently have an operating margin of -671.19 and a Gross Margin at -90.73. Acutus Medical Inc.’s Net Margin is presently recorded at -681.71.

Return on Equity for this stock declined to -101.32, with Return on Assets sitting at -64.96.

Acutus Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 6.00.

Acutus Medical Inc. [AFIB] Insider Position Details

There are presently around $22 million, or 62.70% of AFIB stock, in the hands of institutional investors. The top three institutional holders of AFIB stocks are: DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) with ownership of 2,648,386, which is approximately 0% of the company’s market cap and around 1.50% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 2,648,386 shares of the stock with an approximate value of $3.68 million in AFIB stocks shares; and CAPITAL WORLD INVESTORS, currently with $2.22 million in AFIB stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Acutus Medical Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 28 institutional holders increased their position in Acutus Medical Inc. [NASDAQ:AFIB] by around 1,727,927 shares. Additionally, 49 investors decreased positions by around 3,602,381 shares, while 9 investors held positions by with 10,670,762 shares. The mentioned changes placed institutional holdings at 16,001,070 shares, according to the latest SEC report filing. AFIB stock had 13 new institutional investments in for a total of 863,410 shares, while 23 institutional investors sold positions of 552,538 shares during the same period.