IMAC Holdings Inc. [BACK] is -47.87% lower this YTD. Is it still time to buy?

IMAC Holdings Inc. [NASDAQ: BACK] gained 7.66% or 0.0 points to close at $0.10 with a heavy trading volume of 5452113 shares. The company report on September 7, 2023 at 12:45 PM that IMAC Holdings, Inc. Announces 1-for-30 Reverse Stock Split.

The stockholders of the Company approved the Reverse Split at the Company’s 2023 annual meeting of stockholders held on July 5, 2023. In connection with approving the Reverse Split, the Company’s stockholders granted authority to the Company’s Board of Directors (the “Board”) to determine, at its discretion, a ratio within the range of 1-for-15 to 1-for-30, at which to effectuate the Reverse Split. The Reverse Split was approved by the Board on August 30, 2023. The Reverse Split is expected to enable the Company to meet the Nasdaq Listing Rule that requires a minimum closing bid price of $1.00 per share of the Company’s common stock in order to continue the listing of the common stock on the Nasdaq Capital Market.

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It opened the trading session at $2.898, the shares rose to $3.597 and dropped to $2.859, the range by which the price of stock traded the whole day. The daily chart for BACK points out that the company has recorded -45.26% loss over the past six months. However, it is still -11.11% lower than its most recent low trading price.

If we look at the average trading volume of 1.60M shares, BACK reached to a volume of 5452113 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $1.15 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 0.01, with the Price to Sales ratio for BACK stock in the period of the last 12 months amounting to 0.33.

Trading performance analysis for BACK stock

IMAC Holdings Inc. [BACK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.26. With this latest performance, BACK shares dropped by -5.20% in over the last four-week period, additionally sinking by -45.26% over the last 6 months – not to mention a drop of -76.89% 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 49.74, with the RSI for the last a single of trading hit 54.49, and the three-weeks RSI is set at 47.58 for IMAC Holdings Inc. [BACK]. The present Moving Average for the last 50 days of trading for this stock 0.1093, while it was recorded at 0.0989 for the last single week of trading, and 0.1831 for the last 200 days.

IMAC Holdings Inc. [BACK]: A deeper dive into fundamental analysis

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 Total Capital for BACK is now -60.30, given the latest momentum, and Return on Invested Capital for the company is -124.27. Return on Equity for this stock declined to -162.03, with Return on Assets sitting at -95.60. When it comes to the capital structure of this company, IMAC Holdings Inc. [BACK] has a Total Debt to Total Equity ratio set at 89.35. Additionally, BACK Total Debt to Total Capital is recorded at 47.19, with Total Debt to Total Assets ending up at 37.50. Long-Term Debt to Equity for the company is recorded at 58.40, with the Long-Term Debt to Total Capital now at 30.84.

Reflecting on the efficiency of the workforce at the company, IMAC Holdings Inc. [BACK] managed to generate an average of -$215,445 per employee. Receivables Turnover for the company is 7.91 with a Total Asset Turnover recorded at a value of 0.84.IMAC Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

An analysis of Institutional ownership at IMAC Holdings Inc. [BACK]

The top three institutional holders of BACK 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 BACK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in BACK stock with ownership which is approximately 5.7381%.

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