Assure Holdings Corp [IONM] Stock trading around $0.27 per share: What’s Next?

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Assure Holdings Corp [NASDAQ: IONM] surged by $0.03 during the normal trading session on Friday and reaching a high of $0.328 during the day while it closed the day at $0.27. The company report on November 2, 2023 at 9:00 AM that Assure Holdings Granted Extension by Nasdaq to Regain Compliance with the Stockholders’ Equity Continued Listing Requirement.

As previously announced, on August 16, 2023, the Company received notice from the Staff that the Company no longer satisfies the $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, or the alternatives to that requirement – a $35 million market value of listed securities or $500,000 in net income in the most recent fiscal year or two of the last three fiscal years. The Company was provided 45 calendar days, or until October 2, 2023 to submit a plan to the Staff to regain compliance with the Equity Requirement.

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Assure Holdings Corp stock has also gained 7.89% of its value over the past 7 days. However, IONM stock has declined by -55.62% in the 3 months of the year. Over the past six months meanwhile, it has lost -76.55% and lost -94.78% year-on date.

The market cap for IONM stock reached $1.47 million, with 5.42 million shares outstanding and 5.26 million shares in the current float. Compared to the average trading volume of 1.27M shares, IONM reached a trading volume of 10339663 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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Here’s what leading stock market gurus have to say about Assure Holdings Corp [IONM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IONM shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IONM stock is a recommendation set at 1.00. 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 Assure Holdings Corp is set at 0.04, with the Price to Sales ratio for IONM stock in the period of the last 12 months amounting to 0.07. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 0.58.

IONM stock trade performance evaluation

Assure Holdings Corp [IONM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.89. With this latest performance, IONM shares dropped by -1.45% in over the last four-week period, additionally sinking by -76.55% over the last 6 months – not to mention a drop of -98.08% in the past year of trading.

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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 IONM stock in for the last two-week period is set at 52.92, with the RSI for the last a single of trading hit 58.28, and the three-weeks RSI is set at 48.22 for Assure Holdings Corp [IONM]. The present Moving Average for the last 50 days of trading for this stock 0.2656, while it was recorded at 0.2512 for the last single week of trading, and 1.9523 for the last 200 days.

Assure Holdings Corp [IONM]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Assure Holdings Corp [IONM] shares currently have an operating margin of -221.25 and a Gross Margin at -75.38. Assure Holdings Corp’s Net Margin is presently recorded at -274.34.

Return on Total Capital for IONM is now -75.13, given the latest momentum, and Return on Invested Capital for the company is -97.28. Return on Equity for this stock declined to -174.96, with Return on Assets sitting at -82.89. When it comes to the capital structure of this company, Assure Holdings Corp [IONM] has a Total Debt to Total Equity ratio set at 262.63. Additionally, IONM Total Debt to Total Capital is recorded at 72.42, with Total Debt to Total Assets ending up at 59.19. Long-Term Debt to Equity for the company is recorded at 234.91, with the Long-Term Debt to Total Capital now at 64.78.

Reflecting on the efficiency of the workforce at the company, Assure Holdings Corp [IONM] managed to generate an average of -$237,102 per employee. Receivables Turnover for the company is 0.41 with a Total Asset Turnover recorded at a value of 0.30.Assure Holdings Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.

Assure Holdings Corp [IONM]: Institutional Ownership

The top three institutional holders of IONM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in IONM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in IONM stock with ownership which is approximately 5.7994%.

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