Psychemedics (NASDAQ:PMD) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Psychemedics Co. (NASDAQ:PMD) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.36 and traded as high as $2.77. Psychemedics shares last traded at $2.67, with a volume of 113,600 shares trading hands.

Psychemedics Price Performance

The firm has a market capitalization of $15.73 million, a PE ratio of -5.24 and a beta of 0.65. The firm’s fifty day moving average price is $2.52 and its 200 day moving average price is $2.36. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at Psychemedics

In related news, Director Peter Kamin sold 320,708 shares of the 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 sale, the director now directly owns 1,499,710 shares of the company’s stock, valued at approximately $3,524,318.50. This represents a 17.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Powell Anderson Capital Partne acquired 75,000 shares of the business’s 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 acquisition, the insider now directly owns 494,556 shares of the company’s stock, valued at $1,320,464.52. This represents a 17.88 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,552,185 shares of company stock valued at $3,650,628. 13.96% of the stock is owned by insiders.

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.