CorMedix Inc. [CRMD] is -12.31% lower this YTD. Is it still time to buy?

CorMedix Inc. [NASDAQ: CRMD] traded at a high on 11/23/22, posting a 2.31 gain after which it closed the day’ session at $3.99. The company report on November 10, 2022 that CorMedix Inc. Reports Third Quarter 2022 Financial Results and Provides Business Update.


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The results of the trading session contributed to over 206320 shares changing hands. Over the past one week, the price volatility of CorMedix Inc. stands at 7.28% while the volatility over the past one month is 7.93%.

The market cap for CRMD stock reached $163.91 million, with 41.18 million shares outstanding and 40.77 million shares in the current float. Compared to the average trading volume of 194.12K shares, CRMD reached a trading volume of 206320 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about CorMedix Inc. [CRMD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRMD shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRMD 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.

Needham have made an estimate for CorMedix Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 17, 2021. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on September 29, 2020, representing the official price target for CorMedix Inc. stock. Previously, the target price had yet another raise to $20, while Truist analysts kept a Buy rating on CRMD stock.

The Average True Range (ATR) for CorMedix Inc. is set at 0.26, with the Price to Sales ratio for CRMD stock in the period of the last 12 months amounting to 1779.63. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 1.44.

How has CRMD stock performed recently?

CorMedix Inc. [CRMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.84. With this latest performance, CRMD shares gained by 27.88% in over the last four-week period, additionally plugging by 23.15% over the last 6 months – not to mention a drop of -22.07% 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 CRMD stock in for the last two-week period is set at 67.66, with the RSI for the last a single of trading hit 71.48, and the three-weeks RSI is set at 63.03 for CorMedix Inc. [CRMD]. The present Moving Average for the last 50 days of trading for this stock 3.16, while it was recorded at 3.95 for the last single week of trading, and 3.94 for the last 200 days.

CorMedix Inc. [CRMD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CorMedix Inc. [CRMD] shares currently have an operating margin of -15417.51 and a Gross Margin at -10.42. CorMedix Inc.’s Net Margin is presently recorded at -14774.70.

Return on Equity for this stock declined to -52.72, with Return on Assets sitting at -47.71.

CorMedix Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.80 and a Current Ratio set at 11.80.

Insider trade positions for CorMedix Inc. [CRMD]

There are presently around $44 million, or 26.80% of CRMD stock, in the hands of institutional investors. The top three institutional holders of CRMD stocks are: NOMURA HOLDINGS INC with ownership of 2,952,334, which is approximately 0.007% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 1,796,506 shares of the stock with an approximate value of $7.17 million in CRMD stocks shares; and ELLIOTT INVESTMENT MANAGEMENT L.P., currently with $6.19 million in CRMD stock with ownership of nearly 0% of the company’s market capitalization.

Positions in CorMedix Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 26 institutional holders increased their position in CorMedix Inc. [NASDAQ:CRMD] by around 600,909 shares. Additionally, 41 investors decreased positions by around 2,016,067 shares, while 20 investors held positions by with 8,419,042 shares. The mentioned changes placed institutional holdings at 11,036,018 shares, according to the latest SEC report filing. CRMD stock had 13 new institutional investments in for a total of 286,551 shares, while 12 institutional investors sold positions of 261,790 shares during the same period.

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