Psychemedics Co. (NASDAQ:PMD) Sees Large Decrease in Short Interest

Psychemedics Co. (NASDAQ:PMD) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 20,900 shares, a decrease of 30.6% from the August 15th total of 30,100 shares. Based on an average trading volume of 27,200 shares, the short-interest ratio is currently 0.8 days. Currently, 0.5% of the shares of the company are short sold.

Psychemedics Stock Down 0.2 %

PMD traded down $0.01 during trading hours on Monday, reaching $2.32. The company’s stock had a trading volume of 11,770 shares, compared to its average volume of 16,457. Psychemedics has a 52 week low of $1.63 and a 52 week high of $4.04. The company’s 50-day moving average is $2.22 and its 200-day moving average is $2.50.

Psychemedics (NASDAQ:PMD) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $4.73 million during the quarter. Psychemedics had a negative net margin of 21.50% and a negative return on equity of 68.43%.

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.