In the last trading session, 2,893,334 shares of the CorMedix Inc.(NASDAQ:CRMD) were traded, and its beta was 2.92. Most recently the company’s share price was $17.58, and it changed around $1.33 or 0.08% from the last close, which brings the market valuation of the company to $564.89 Million. CRMD currently trades at a discount to its 52-week high of $18.8, offering almost -6.94% off that amount. The share price’s 52-week low was $2.16, which indicates that the current value has risen by an impressive 87.71% since then. We note from CorMedix Inc.’s average daily trading volume that its 10-day average is 1.68 Million shares, with the 3-month average coming to 823.61 Million.
CorMedix Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended CRMD as a Hold, whereas 5 deemed it a Buy, and no one rated it as Underweight. CorMedix Inc. is expected to report earnings per share of -$0.23 for the current quarter.
CorMedix Inc. (NASDAQ:CRMD): Trading Information
Instantly CRMD has showed a green trend with a performance of 8.18% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $18.80 on Friday, Feb 19 increased the stock’s daily price by 6.49%. The company’s shares are currently up 1.37% year-to-date, but still up 0.3218 over the last five days. On the other hand, CorMedix Inc. (NASDAQ:CRMD) is 0.96% up in the 30-day period. We can see from the shorts that 3.13 Million shares have been sold at a short interest cover period of 0 day(s).
The consensus price target as assigned by Wall Street analysts is $25.6, which translates to bears needing to increase their stock price by 45.62% from its current value. Analyst projections state that CRMD is forecast to be at a low of $10 and a high of $35. In order for the stock price to hit the forecast high, the stock would need to surge +99.09% from its current level, while the stock would need to crash -43.12% from its current level to reach the projected low.
CorMedix Inc. (CRMD) projections and forecasts
CorMedix Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +256.59 percent over the past six months and at a 7.87% annual growth rate that is well below the industry average of 14%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -9.5% in revenue this quarter, and will report a decline of -14.3% in the next quarter. The year-over-year growth rate is expected to be -25.8%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $50Million in revenue for the current quarter. 3 analysts expect CorMedix Inc. to make $60Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $25Million and $74Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 100%. Forecasts for the next quarter put sales growth at -18.9%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 17.8%. CorMedix Inc. earnings are expected to decrease by -19.7% in 2021, but the outlook is negative 0% per year for the next five years.
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CorMedix Inc. (NASDAQ:CRMD)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.04% of CorMedix Inc. shares, and 26.16% of them are in the hands of institutional investors. The stock currently has a share float of 26.7%. CorMedix Inc. stock is held by 97 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 6.21% of the shares, which is about 2Million shares worth $14.82 Million.
Elliott Investment Management L.P., with 5.47% or 1.76 Million shares worth $10.6 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.