Grom Social Enterprises Inc. [NASDAQ: GROM] gained 17.16% or 0.23 points to close at $1.57 with a heavy trading volume of 7092888 shares. The company report on December 13, 2022 that Grom Social Enterprises, Inc. Announces Closing of $5.0 Million Public Offering.
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In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 259,515 Units or Pre-Funded Units solely to cover over-allotments, if any, less underwriting discounts and commissions. On December 12, 2022, the underwriters exercised the option to purchase an additional 495,602 warrants.
It opened the trading session at $1.46, the shares rose to $1.85 and dropped to $1.45, the range by which the price of stock traded the whole day. The daily chart for GROM points out that the company has recorded -87.91% loss over the past six months. However, it is still -38.94% lower than its most recent low trading price.
If we look at the average trading volume of 71.45K shares, GROM reached to a volume of 7092888 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Grom Social Enterprises Inc. [GROM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GROM shares is $45.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GROM 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 Average True Range (ATR) for Grom Social Enterprises Inc. is set at 0.92, with the Price to Sales ratio for GROM stock in the period of the last 12 months amounting to 0.65. The Price to Book ratio for the last quarter was 0.05, with the Price to Cash per share for the same quarter was set at 0.58.
Trading performance analysis for GROM stock
Grom Social Enterprises Inc. [GROM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -65.46. With this latest performance, GROM shares dropped by -67.58% in over the last four-week period, additionally sinking by -87.91% over the last 6 months – not to mention a drop of -97.63% 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 GROM stock in for the last two-week period is set at 22.78, with the RSI for the last a single of trading hit 20.46, and the three-weeks RSI is set at 25.80 for Grom Social Enterprises Inc. [GROM]. The present Moving Average for the last 50 days of trading for this stock 7.3192, while it was recorded at 2.2724 for the last single week of trading, and 15.6598 for the last 200 days.
Grom Social Enterprises Inc. [GROM]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Grom Social Enterprises Inc. [GROM] shares currently have an operating margin of -103.05 and a Gross Margin at +33.27. Grom Social Enterprises Inc.’s Net Margin is presently recorded at -161.22.
Return on Equity for this stock declined to -63.39, with Return on Assets sitting at -36.84.
Grom Social Enterprises Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
An analysis of insider ownership at Grom Social Enterprises Inc. [GROM]
Positions in Grom Social Enterprises Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 9 institutional holders increased their position in Grom Social Enterprises Inc. [NASDAQ:GROM] by around 4,390 shares. Additionally, 6 investors decreased positions by around 50,673 shares, while 13 investors held positions by with 27,058 shares. The mentioned changes placed institutional holdings at 28,005 shares, according to the latest SEC report filing. GROM stock had 6 new institutional investments in for a total of 3,830 shares, while 3 institutional investors sold positions of 44,905 shares during the same period.