In the last trading session, 2,824,443 shares of the Titan Medical Inc.(NASDAQ:TMDI) were traded, and its beta was 0. Most recently the company’s share price was $2.58, and it changed around -$0.2 or -0.07% from the last close, which brings the market valuation of the company to $261.74 Million. TMDI currently trades at a discount to its 52-week high of $3.47, offering almost -34.5% off that amount. The share price’s 52-week low was $0.12, which indicates that the current value has risen by an impressive 95.35% since then. We note from Titan Medical Inc.’s average daily trading volume that its 10-day average is 2.54 Million shares, with the 3-month average coming to 3.6 Million.
Titan Medical Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 0. If we narrow it down even further, the data shows that none out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended TMDI as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight.
Titan Medical Inc. (NASDAQ:TMDI): Trading Information
Although TMDI has showed a red trend with a performance of -7.19% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $3.25- on Tuesday, Feb 16 increased the stock’s daily price by 20.62%. The company’s shares are currently up 0.51% year-to-date, but still down -0.1513 over the last five days. On the other hand, Titan Medical Inc. (NASDAQ:TMDI) is -0.02% down in the 30-day period. We can see from the shorts that 1.06 Million shares have been sold at a short interest cover period of 0.29 day(s).
The consensus price target as assigned by Wall Street analysts is $1, which translates to bears needing to reduce their stock price by -61.24% from its current value. Analyst projections state that TMDI is forecast to be at a low of $1 and a high of $1. In order for the stock price to hit the forecast high, the stock would need to surge -61.24% from its current level, while the stock would need to crash -61.24% from its current level to reach the projected low.
Titan Medical Inc. (TMDI) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Titan Medical Inc. earnings are expected to decrease by 0% in 2021, but the outlook is negative 0% per year for the next five years.
Titan Medical Inc. (NASDAQ:TMDI)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.31% of Titan Medical Inc. shares, and 3.29% of them are in the hands of institutional investors. The stock currently has a share float of 3.3%. Titan Medical Inc. stock is held by 51 institutions, with Masters Capital Management, LLC being the largest institutional investor. By Sep 29, 2020, it held 1.66% of the shares, which is about 1.5 Million shares worth $1.1 Million.
Renaissance Technologies, LLC, with 0.65% or 589.2 Thousand shares worth $1.01 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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