Artelo Biosciences Inc. [ARTL] fell -37.06% so far this year. What now?

Artelo Biosciences Inc. [NASDAQ: ARTL] stock went on a downward path that fall over -22.60% on Thursday, amounting to a one-week price decrease of less than -2.20%. The company report on September 7, 2023 at 8:00 AM that Artelo Biosciences Completes Positive Pre-IND Meeting with FDA for ART26.12.

Announces Plans to File IND Application in Neuropathic Pain.

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Over the last 12 months, ARTL stock dropped by -52.88%. The one-year Artelo Biosciences Inc. stock forecast points to a potential upside of 90.07. The average equity rating for ARTL stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.35 million, with 2.89 million shares outstanding and 2.86 million shares in the current float. Compared to the average trading volume of 54.93K shares, ARTL stock reached a trading volume of 12149573 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Artelo Biosciences Inc. [ARTL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARTL shares is $18.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARTL stock is a recommendation set at 1.70. 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.

Ladenburg Thalmann have made an estimate for Artelo Biosciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 12, 2021.

The Average True Range (ATR) for Artelo Biosciences Inc. is set at 0.21 The Price to Book ratio for the last quarter was 0.32, with the Price to Cash per share for the same quarter was set at 4.76.

ARTL Stock Performance Analysis:

Artelo Biosciences Inc. [ARTL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.20. With this latest performance, ARTL shares dropped by -8.59% in over the last four-week period, additionally sinking by -33.13% over the last 6 months – not to mention a drop of -52.88% 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 ARTL stock in for the last two-week period is set at 45.12, with the RSI for the last a single of trading hit 44.33, and the three-weeks RSI is set at 45.66 for Artelo Biosciences Inc. [ARTL]. The present Moving Average for the last 50 days of trading for this stock 1.96, while it was recorded at 1.96 for the last single week of trading, and 2.36 for the last 200 days.

Insight into Artelo Biosciences Inc. Fundamentals:

Return on Total Capital for ARTL is now -65.10, given the latest momentum, and Return on Invested Capital for the company is -63.95. Return on Equity for this stock declined to -64.13, with Return on Assets sitting at -61.00. When it comes to the capital structure of this company, Artelo Biosciences Inc. [ARTL] has a Total Debt to Total Equity ratio set at 0.32. Additionally, ARTL Total Debt to Total Capital is recorded at 0.32, with Total Debt to Total Assets ending up at 0.31. Long-Term Debt to Equity for the company is recorded at 0.12, with the Long-Term Debt to Total Capital now at 0.12.

Reflecting on the efficiency of the workforce at the company, Artelo Biosciences Inc. [ARTL] managed to generate an average of -$1,440,429 per employee.Artelo Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 24.20 and a Current Ratio set at 24.20.

Artelo Biosciences Inc. [ARTL] Institutonal Ownership Details

The top three institutional holders of ARTL stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in ARTL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in ARTL stock with ownership which is approximately 5.7381%.

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