IMAC Holdings Inc. [NASDAQ: BACK] price surged by 12.83 percent to reach at $0.02. The company report on May 23, 2023 at 9:43 AM that Theralink® Signs Definitive Merger Agreement to be Acquired by IMAC Holdings, a Nasdaq Listed Company.
Theralink’s patented technology is helping to solve a significant problem in cancer treatment by providing game changing technology that can predict FDA-approved drugs that may be effective in each solid tumor cancer.
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A sum of 7787580 shares traded at recent session while its average daily volume was at 2.49M shares. IMAC Holdings Inc. shares reached a high of $0.2047 and dropped to a low of $0.1505 until finishing in the latest session at $0.16.
The one-year BACK stock forecast points to a potential upside of 89.33. The average equity rating for BACK stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on IMAC Holdings Inc. [BACK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BACK shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BACK 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 IMAC Holdings Inc. is set at 0.02, with the Price to Sales ratio for BACK stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 5.33, with the Price to Cash per share for the same quarter was set at 0.01.
BACK Stock Performance Analysis:
IMAC Holdings Inc. [BACK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.69. With this latest performance, BACK shares gained by 9.81% in over the last four-week period, additionally sinking by -50.00% over the last 6 months – not to mention a drop of -86.21% 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 BACK stock in for the last two-week period is set at 52.06, with the RSI for the last a single of trading hit 54.20, and the three-weeks RSI is set at 50.04 for IMAC Holdings Inc. [BACK]. The present Moving Average for the last 50 days of trading for this stock 0.1532, while it was recorded at 0.1499 for the last single week of trading, and 0.3088 for the last 200 days.
Insight into IMAC Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and IMAC Holdings Inc. [BACK] shares currently have an operating margin of -60.85 and a Gross Margin at -9.06. IMAC Holdings Inc.’s Net Margin is presently recorded at -113.14.
Return on Equity for this stock declined to -162.03, with Return on Assets sitting at -95.60.
IMAC Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.