Psychemedics (NASDAQ:PMD) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Psychemedics Co. (NASDAQ:PMD) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.36 and traded as high as $2.77. Psychemedics shares last traded at $2.67, with a volume of 113,600 shares traded.

Psychemedics Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a 50-day moving average price of $2.52 and a 200-day moving average price of $2.36. The company has a market capitalization of $15.73 million, a price-to-earnings ratio of -5.24 and a beta of 0.65.

Insider Activity at Psychemedics

In related news, Director Peter Kamin sold 320,708 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $2.35, for a total transaction of $753,663.80. Following the transaction, the director now directly owns 1,499,710 shares of the company’s stock, valued at approximately $3,524,318.50. This trade represents a 17.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Powell Anderson Capital Partne acquired 75,000 shares of the business’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 acquisition, the insider now directly owns 494,556 shares in the company, valued at approximately $1,320,464.52. This trade represents a 17.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,552,185 shares of company stock worth $3,650,628. Company insiders own 13.96% of the company’s stock.

About Psychemedics

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.