Psychemedics (NASDAQ:PMD) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Psychemedics Co. (NASDAQ:PMD)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.34 and traded as high as $2.77. Psychemedics shares last traded at $2.67, with a volume of 113,600 shares traded.

Psychemedics Stock Down 1.8 %

The company has a market cap of $15.73 million, a P/E 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. The firm has a fifty day moving average price of $2.48 and a 200 day moving average price of $2.35.

Insider Activity

In other Psychemedics news, major shareholder Powell Anderson Capital Partne bought 60,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $1.97 per share, for a total transaction of $118,200.00. Following the transaction, the insider now owns 604,556 shares of the company’s stock, valued at approximately $1,190,975.32. The trade was a 11.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Kamin acquired 1,409,712 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $2.35 per share, with a total value of $3,312,823.20. Following the completion of the purchase, the director now owns 1,820,418 shares of the company’s stock, valued at $4,277,982.30. This trade represents a 343.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,552,185 shares of company stock valued at $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.