Psychemedics (NASDAQ:PMD) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Psychemedics Co. (NASDAQ:PMD) passed 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 changing hands.

Psychemedics Stock Down 1.8 %

The firm has a market capitalization of $15.73 million, a P/E ratio of -5.24 and a beta of 0.65. The firm’s 50 day moving average is $2.48 and its two-hundred day moving average is $2.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.59 and a quick ratio of 1.59.

Insider Transactions at Psychemedics

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