Allarity Therapeutics Inc. [ALLR] is -73.83% lower this YTD. Is it still time to buy?

Allarity Therapeutics Inc. [NASDAQ: ALLR] loss -31.95% or -0.03 points to close at $0.08 with a heavy trading volume of 19664396 shares. The company report on March 24, 2023 that Allarity Therapeutics Announces Reverse Stock Split of Common Stock.

Common Stock Will Begin Trading on a Post-Split Adjusted Basis on March 27, 2023.

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Press releaseBOSTON, Mass – March 24, 2023 — Allarity Therapeutics, Inc. (Nasdaq: ALLR) (“Allarity” or the “Company”), a clinical-stage pharmaceutical company developing novel oncology therapeutics together with drug-specific DRP® companion diagnostics for personalized cancer care, today announced that it intends to effect a reverse stock split of its common stock, at a ratio of 1 post split share for every 35 pre-split shares. The reverse stock split will become effective at 4:05 p.m. New York Time on Friday, March 24, 2023 (the “Effective Time”). The Company’s common stock will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the existing trading symbol “ALLR” and will begin trading on a post split-adjusted basis when the market opens on Monday, March 27, 2023. The CUSIP number for Allarity’s common stock following the reverse stock split will be 016744203.

It opened the trading session at $3.15, the shares rose to $3.395 and dropped to $2.457, the range by which the price of stock traded the whole day. The daily chart for ALLR points out that the company has recorded -93.31% loss over the past six months. However, it is still 11.11% higher than its most recent low trading price.

If we look at the average trading volume of 3.94M shares, ALLR reached to a volume of 19664396 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Trading performance analysis for ALLR stock

Allarity Therapeutics Inc. [ALLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.76. With this latest performance, ALLR shares dropped by -59.57% in over the last four-week period, additionally sinking by -93.31% over the last 6 months – not to mention a drop of -96.90% 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 ALLR stock in for the last two-week period is set at 27.87, with the RSI for the last a single of trading hit 25.01, and the three-weeks RSI is set at 30.61 for Allarity Therapeutics Inc. [ALLR]. The present Moving Average for the last 50 days of trading for this stock 0.1924, while it was recorded at 0.1111 for the last single week of trading, and 0.7620 for the last 200 days.

Allarity Therapeutics Inc. [ALLR]: A deeper dive into fundamental analysis

Return on Total Capital for ALLR is now -132.51, given the latest momentum, and Return on Invested Capital for the company is -141.20. Return on Equity for this stock declined to -155.34, with Return on Assets sitting at -50.04. When it comes to the capital structure of this company, Allarity Therapeutics Inc. [ALLR] has a Total Debt to Total Equity ratio set at 197.62. Additionally, ALLR Total Debt to Total Capital is recorded at 66.40, with Total Debt to Total Assets ending up at 25.68.

Reflecting on the efficiency of the workforce at the company, Allarity Therapeutics Inc. [ALLR] managed to generate an average of -$1,784,222 per employee.Allarity Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

An analysis of insider ownership at Allarity Therapeutics Inc. [ALLR]

There are presently around $0 million, or 1.70% of ALLR stock, in the hands of institutional investors. The top three institutional holders of ALLR stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 38,786, which is approximately 53.389% of the company’s market cap and around 5.20% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 29,433 shares of the stock with an approximate value of $2000.0 in ALLR stocks shares; and MORGAN STANLEY, currently with $2000.0 in ALLR stock with ownership of nearly 18915.232% of the company’s market capitalization.

Positions in Allarity Therapeutics Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 5 institutional holders increased their position in Allarity Therapeutics Inc. [NASDAQ:ALLR] by around 56,537 shares. Additionally, 4 investors decreased positions by around 76,740 shares, while 3 investors held positions by with 11,851 shares. The mentioned changes placed institutional holdings at 145,128 shares, according to the latest SEC report filing. ALLR stock had 2 new institutional investments in for a total of 14,470 shares, while 2 institutional investors sold positions of 62,180 shares during the same period.


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