JanOne Inc. [JAN] is -6.57% lower this YTD. Is it still time to buy?

JanOne Inc. [NASDAQ: JAN] jumped around 0.11 points on Wednesday, while shares priced at $1.28 at the close of the session, up 9.40%. The company report on March 22, 2023 that JanOne Sells Legacy Business ARCA Recycling to Concentrate on Growing BioPharm Businesses.

Sale reduces liabilities by $17.6 million and entails at least $24 Million in future payments.

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JanOne (Nasdaq: JAN), a biopharmaceutical company specializing in developing non-addicting pain killers and treatments for underlying causes of pain, announced that on March 9, 2023 they entered into a Stock Purchase Agreement with VM7, a Delaware corporation, under which VM7 agreed to acquire all of the outstanding equity interests of ARCA Recycling, Inc, Customer Connexx LLC and ARCA Canada Inc. Virland Johnson, who has served as ARCA Recycling’s CFO and COO for several years is the principal of VM7.

JanOne Inc. stock is now -6.57% down from its year-to-date (YTD) trading value. JAN Stock saw the intraday high of $1.67 and lowest of $1.23 per share. The company’s 52-week high price is 5.00, which means current price is +16.36% above from all time high which was touched on 02/07/23.

Compared to the average trading volume of 140.57K shares, JAN reached a trading volume of 15268227 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about JanOne Inc. [JAN]?

The Average True Range (ATR) for JanOne Inc. is set at 0.15, with the Price to Sales ratio for JAN stock in the period of the last 12 months amounting to 0.13. The Price to Book ratio for the last quarter was 3.56, with the Price to Cash per share for the same quarter was set at 0.22.

How has JAN stock performed recently?

JanOne Inc. [JAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.86. With this latest performance, JAN shares dropped by -20.50% in over the last four-week period, additionally sinking by -45.53% over the last 6 months – not to mention a drop of -65.22% 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 JAN stock in for the last two-week period is set at 40.12, with the RSI for the last a single of trading hit 40.01, and the three-weeks RSI is set at 40.89 for JanOne Inc. [JAN]. The present Moving Average for the last 50 days of trading for this stock 1.5337, while it was recorded at 1.3102 for the last single week of trading, and 2.2088 for the last 200 days.

JanOne Inc. [JAN]: Deeper insight into the fundamentals

JanOne Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

Insider trade positions for JanOne Inc. [JAN]

There are presently around $0 million, or 3.40% of JAN stock, in the hands of institutional investors. The top three institutional holders of JAN stocks are: VANGUARD GROUP INC with ownership of 39,454, which is approximately 0.137% of the company’s market cap and around 15.90% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 29,300 shares of the stock with an approximate value of $38000.0 in JAN stocks shares; and STATE STREET CORP, currently with $21000.0 in JAN stock with ownership of nearly 0% of the company’s market capitalization.

6 institutional holders increased their position in JanOne Inc. [NASDAQ:JAN] by around 15,905 shares. Additionally, 4 investors decreased positions by around 6,060 shares, while 2 investors held positions by with 93,717 shares. The mentioned changes placed institutional holdings at 115,682 shares, according to the latest SEC report filing. JAN stock had 3 new institutional investments in for a total of 12,914 shares, while 2 institutional investors sold positions of 106 shares during the same period.


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