Acutus Medical Inc. [AFIB] fell -69.79% so far this year. What now?

Acutus Medical Inc. [NASDAQ: AFIB] traded at a low on 09/02/22, posting a -8.85 loss after which it closed the day’ session at $1.03. The company report on September 1, 2022 that Acutus Medical Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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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, granted an equity award on September 1, 2022 that was approved by the Compensation Committee of its Board of Directors under Company’s 2022 Inducement Equity Incentive Plan, as a material inducement to employment to one individual hired by Acutus in August 2022. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4).

The employee received 2,000 restricted stock units (“RSUs”). One-fourth of the RSUs granted to each employee will vest yearly on each anniversary of the grant date, such that the RSUs granted to the employee will be fully vested on the fourth anniversary of the grant date, in each case, subject to such employee’s continued employment with Acutus on such vesting date.

The results of the trading session contributed to over 283034 shares changing hands. Over the past one week, the price volatility of Acutus Medical Inc. stands at 10.57% while the volatility over the past one month is 9.59%.

The market cap for AFIB stock reached $30.58 million, with 28.34 million shares outstanding and 26.05 million shares in the current float. Compared to the average trading volume of 3.15M shares, AFIB reached a trading volume of 283034 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $3.50 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 0.13, with the Price to Sales ratio for AFIB stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 3.00.

How has AFIB stock performed recently?

Acutus Medical Inc. [AFIB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.77. With this latest performance, AFIB shares dropped by -30.41% in over the last four-week period, additionally sinking by -36.42% over the last 6 months – not to mention a drop of -91.99% 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 34.93, with the RSI for the last a single of trading hit 25.37, and the three-weeks RSI is set at 40.94 for Acutus Medical Inc. [AFIB]. The present Moving Average for the last 50 days of trading for this stock 1.2580, while it was recorded at 1.1700 for the last single week of trading, and 1.7488 for the last 200 days.

Acutus Medical Inc. [AFIB]: Deeper insight into the 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 4.40 and a Current Ratio set at 5.10.

Insider trade positions for Acutus Medical Inc. [AFIB]

There are presently around $12 million, or 45.50% 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 2.30% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 2,648,386 shares of the stock with an approximate value of $2.73 million in AFIB stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.65 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 August and at the time of the August reporting period, where 22 institutional holders increased their position in Acutus Medical Inc. [NASDAQ:AFIB] by around 766,349 shares. Additionally, 49 investors decreased positions by around 5,518,490 shares, while 7 investors held positions by with 5,228,861 shares. The mentioned changes placed institutional holdings at 11,513,700 shares, according to the latest SEC report filing. AFIB stock had 12 new institutional investments in for a total of 429,099 shares, while 28 institutional investors sold positions of 1,252,194 shares during the same period.


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