Titan Medical Inc. [NASDAQ: TMDI] plunged by -$0.05 during the normal trading session on Thursday and reaching a high of $0.15 during the day while it closed the day at $0.14. The company report on March 9, 2023 that Titan Medical Announces Decision of Nasdaq Hearings Panel to Delist Common Shares.
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Common shares to continue to trade on the Toronto Stock Exchange and are expected to trade on the OTC Markets.
Titan Medical Inc. stock has also loss -31.71% of its value over the past 7 days. However, TMDI stock has declined by -76.78% in the 3 months of the year. Over the past six months meanwhile, it has lost -70.01% and lost -78.81% year-on date.
The market cap for TMDI stock reached $15.66 million, with 111.89 million shares outstanding and 111.59 million shares in the current float. Compared to the average trading volume of 3.67M shares, TMDI reached a trading volume of 7585210 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Titan Medical Inc. [TMDI]:
Oppenheimer have made an estimate for Titan Medical Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 07, 2021. While these analysts kept the previous recommendation, Piper Jaffray raised their target price to Overweight. The new note on the price target was released on May 22, 2019, representing the official price target for Titan Medical Inc. stock.
The Average True Range (ATR) for Titan Medical Inc. is set at 0.06, with the Price to Sales ratio for TMDI stock in the period of the last 12 months amounting to 1.57. The Price to Book ratio for the last quarter was 2.26.
TMDI stock trade performance evaluation
Titan Medical Inc. [TMDI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.71. With this latest performance, TMDI shares dropped by -83.91% in over the last four-week period, additionally sinking by -70.01% over the last 6 months – not to mention a drop of -72.55% 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 TMDI stock in for the last two-week period is set at 26.79, with the RSI for the last a single of trading hit 22.08, and the three-weeks RSI is set at 30.87 for Titan Medical Inc. [TMDI]. The present Moving Average for the last 50 days of trading for this stock 0.5867, while it was recorded at 0.1844 for the last single week of trading, and 0.5319 for the last 200 days.
Titan Medical Inc. [TMDI]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Titan Medical Inc. [TMDI] shares currently have an operating margin of -154.22. Titan Medical Inc.’s Net Margin is presently recorded at -73.95.
Return on Equity for this stock declined to -138.05, with Return on Assets sitting at -38.15.
Titan Medical Inc. [TMDI]: Insider Ownership positions
There are presently around $1 million, or 4.56% of TMDI stock, in the hands of institutional investors. The top three institutional holders of TMDI stocks are: ESSEX LLC with ownership of 2,857,640, which is approximately 20.87% of the company’s market cap and around 0.08% of the total institutional ownership; ALPHAQ ADVISORS LLC, holding 255,587 shares of the stock with an approximate value of $36000.0 in TMDI stocks shares; and KINGSBURY CAPITAL INVESTMENT ADVISORS LLC, currently with $31000.0 in TMDI stock with ownership of nearly 394.582% of the company’s market capitalization.
Positions in Titan Medical Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 28 institutional holders increased their position in Titan Medical Inc. [NASDAQ:TMDI] by around 1,355,600 shares. Additionally, 17 investors decreased positions by around 241,423 shares, while 25 investors held positions by with 3,309,855 shares. The mentioned changes placed institutional holdings at 4,906,878 shares, according to the latest SEC report filing. TMDI stock had 20 new institutional investments in for a total of 657,358 shares, while 4 institutional investors sold positions of 138,059 shares during the same period.