Insider Buying: Psychemedics Co. (NASDAQ:PMD) Major Shareholder Acquires 60,000 Shares of Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne purchased 60,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $1.97 per share, with a total value of $118,200.00. Following the completion of the acquisition, the insider now directly owns 604,556 shares of the company’s stock, valued at approximately $1,190,975.32. This trade represents a 11.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Powell Anderson Capital Partne also recently made the following trade(s):

• On Thursday, December 12th, Powell Anderson Capital Partne acquired 75,000 shares of Psychemedics stock. The shares were bought at an average price of $2.67 per share, for a total transaction of $200,250.00.
• On Tuesday, December 10th, Powell Anderson Capital Partne bought 7,473 shares of Psychemedics stock. The shares were bought at an average cost of $2.59 per share, with a total value of $19,355.07.

Psychemedics Trading Down 1.8 %

Shares of Psychemedics stock opened at $2.67 on Thursday. The company’s 50-day moving average price is $2.40 and its 200-day moving average price is $2.32. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.01. Psychemedics Co. has a 12-month low of $1.63 and a 12-month high of $3.93. The company has a market cap of $15.73 million, a price-to-earnings ratio of -5.24 and a beta of 0.65.

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.