Hoth Therapeutics Inc [NASDAQ: HOTH] jumped around 0.14 points on Thursday, while shares priced at $1.52 at the close of the session, up 10.14%. The company report on March 27, 2024 at 2:00 PM that Hoth Therapeutics Announces Exercise of Warrants for $4.2 Million Gross Proceeds.
Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient focused biopharmaceutical company, today announced the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 2,500,000 shares of common stock of the Company originally issued in January 2023, having an exercise price of $5.00 per share, at a reduced exercise price of $1.6775 per share. The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-3 (No. 333-269224). The gross proceeds to the Company from the exercise of the warrants are expected to be approximately $4.2 million, prior to deducting placement agent fees and estimated offering expenses.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Compared to the average trading volume of 491.03K shares, HOTH reached a trading volume of 253432 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Hoth Therapeutics Inc [HOTH]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HOTH shares is $5.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HOTH 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 Benchmark Company have made an estimate for Hoth Therapeutics Inc shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on October 15, 2019.
The Average True Range (ATR) for Hoth Therapeutics Inc is set at 0.13 The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 2.72.
How has HOTH stock performed recently?
Hoth Therapeutics Inc [HOTH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.88. With this latest performance, HOTH shares gained by 16.92% in over the last four-week period, additionally sinking by 0.00% over the last 6 months – not to mention a drop of -26.21% 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 HOTH stock in for the last two-week period is set at 58.38, with the RSI for the last a single of trading hit 59.78, and the three-weeks RSI is set at 57.00 for Hoth Therapeutics Inc [HOTH]. The present Moving Average for the last 50 days of trading for this stock 1.3401, while it was recorded at 1.4820 for the last single week of trading, and 1.7480 for the last 200 days.
Hoth Therapeutics Inc [HOTH]: Deeper insight into the fundamentals
Hoth Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.63 and a Current Ratio set at 7.63.
Earnings analysis for Hoth Therapeutics Inc [HOTH]
With the latest financial reports released by the company, Hoth Therapeutics Inc posted -2.86/share EPS, while the average EPS was predicted by analysts to be reported at -2.29/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -24.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HOTH.
Insider trade positions for Hoth Therapeutics Inc [HOTH]
The top three institutional holders of HOTH stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HOTH stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HOTH stock with ownership which is approximately 5.8325%.
