Psychemedics Corp. (NASDAQ:PMD) Short Interest Update

Psychemedics Corp. (NASDAQ:PMD) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 14,000 shares, an increase of 218.2% from the July 31st total of 4,400 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 18,600 shares, the short-interest ratio is currently 0.8 days.

In related news, VP Michael I. Schaffer sold 9,331 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $9.74, for a total transaction of $90,883.94. Following the sale, the vice president now owns 25,700 shares of the company’s stock, valued at approximately $250,318. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.20% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its stake in Psychemedics by 0.6% during the second quarter. Renaissance Technologies LLC now owns 421,771 shares of the company’s stock worth $4,256,000 after purchasing an additional 2,634 shares during the last quarter. Tieton Capital Management LLC raised its holdings in shares of Psychemedics by 5.8% during the 2nd quarter. Tieton Capital Management LLC now owns 318,772 shares of the company’s stock valued at $3,216,000 after buying an additional 17,490 shares in the last quarter. Crawford Investment Counsel Inc. raised its holdings in shares of Psychemedics by 4.4% during the 1st quarter. Crawford Investment Counsel Inc. now owns 310,870 shares of the company’s stock valued at $4,362,000 after buying an additional 13,195 shares in the last quarter. Vanguard Group Inc. lifted its position in Psychemedics by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 236,833 shares of the company’s stock worth $2,390,000 after buying an additional 13,802 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its position in Psychemedics by 55.1% in the 1st quarter. Kennedy Capital Management Inc. now owns 223,037 shares of the company’s stock worth $3,129,000 after buying an additional 79,263 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Shares of PMD traded up $0.10 during trading hours on Wednesday, reaching $8.25. 22,304 shares of the company’s stock traded hands, compared to its average volume of 23,170. The stock has a market cap of $44.93 million, a PE ratio of 12.88 and a beta of 0.74. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $7.93 and its 200-day simple moving average is $11.16. Psychemedics has a 12 month low of $7.12 and a 12 month high of $19.64.

Psychemedics (NASDAQ:PMD) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.14 EPS for the quarter. The company had revenue of $9.29 million during the quarter. Psychemedics had a return on equity of 19.14% and a net margin of 8.86%.

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.18 per share. The ex-dividend date was Monday, August 5th. This represents a $0.72 annualized dividend and a yield of 8.73%.

Separately, ValuEngine raised Psychemedics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Psychemedics Company Profile

Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States and internationally. The company's tests provide quantitative information that can indicate the approximate amount of drug ingested, as well as historical data, which can show a pattern of individual drug use over a longer period of time.

Read More: What is the Book Value of a Share?

Receive News & Ratings for Psychemedics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Psychemedics and related companies with MarketBeat.com's FREE daily email newsletter.