Psychemedics (NASDAQ:PMD) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Psychemedics Co. (NASDAQ:PMD) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.32 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 quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.01. The company has a market cap of $15.73 million, a PE ratio of -5.24 and a beta of 0.65. The company’s fifty day moving average is $2.42 and its 200-day moving average is $2.32.

Insider Transactions at Psychemedics

In other Psychemedics news, major shareholder Powell Anderson Capital Partne bought 60,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $1.97 per share, for a total transaction of $118,200.00. Following the completion of the transaction, the insider now owns 604,556 shares of the company’s stock, valued at $1,190,975.32. This represents a 11.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Kamin sold 320,708 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 $3,524,318.50. The trade was a 17.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 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.

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.