Psychemedics (NASDAQ:PMD) Shares Cross Above 200-Day Moving Average – Here’s Why

Psychemedics Co. (NASDAQ:PMD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.32 and traded as high as $2.77. Psychemedics shares last traded at $2.67, with a volume of 113,600 shares trading hands.

Psychemedics Trading Down 1.8 %

The stock’s fifty day simple moving average is $2.42 and its two-hundred day simple moving average is $2.32. The firm has a market cap of $15.73 million, a PE ratio of -5.24 and a beta of 0.65. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling

In other news, major shareholder Powell Anderson Capital Partne bought 75,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $2.67 per share, with a total value of $200,250.00. Following the completion of the acquisition, the insider now owns 494,556 shares of the company’s stock, valued at approximately $1,320,464.52. This represents a 17.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Kamin sold 320,708 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $2.35, for a total transaction of $753,663.80. Following the sale, the director now owns 1,499,710 shares in the company, valued at approximately $3,524,318.50. The trade was a 17.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 1,552,185 shares of company stock worth $3,650,628 in the last 90 days. Insiders own 13.96% of the company’s stock.

Psychemedics Company Profile

Psychemedics Corporation, together with its subsidiaries, engages in the provision of testing services for the detection of drugs of abuse and other health markers through the analysis of hair samples in the United States and internationally. It offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, and PCP; amphetamines, including ecstasy, eve, and Adderall; opioids, such as heroin metabolite, morphine, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine; synthetic cannabinoids comprising K2, Spice, and Blaze; benzodiazepines consisting of Xanax, Valium, and Ativan; and nicotine, fentanyl and fentanyl analogs, and alcohol.