Strong fundamental momentum pushes IMAC Holdings Inc. (IMAC) higher – Marketing Sentinel

Strong fundamental momentum pushes IMAC Holdings Inc. (IMAC) higher

IMAC Holdings Inc. (NASDAQ:IMAC) has a beta value of 0 and has seen 1,785,488 shares traded in the last trading session. The company, currently valued at $43.21 Million, closed the last trade at $1.8 per share which meant it gained $0.21 on the day or 13.21% during that session. The IMAC stock price is -51.67% off its 52-week high price of $2.73 and 64.33% above the 52-week low of $0.642. If we look at the company’s 10-day average daily trading volume, we find that it stood at 390.73 Million shares traded. The 3-month trading volume is 487.45 Million shares.

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The consensus among analysts is that IMAC Holdings Inc. (IMAC) is an Overweight stock at the moment, with a recommendation rating of 2.3. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 3 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.14.

IMAC Holdings Inc. (NASDAQ:IMAC) trade information

Sporting 13.21% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, Apr 30 when the IMAC stock price touched $1.9 or saw a rise of 5.26%. Year-to-date, IMAC Holdings Inc. shares have moved 17.65%, while the 5-day performance has seen it change 5.88%. Over the past 30 days, the shares of IMAC Holdings Inc. (NASDAQ:IMAC) have changed 8.43%. Short interest in the company has seen 143.43 Million shares shorted with days to cover at 0.29.

Wall Street analysts have a consensus price target for the stock at $3.68, which means that the shares’ value could jump 104.44% from current levels. The projected low price target is $2.35 while the price target rests at a high of $5. In that case, then, we find that the current price level is +177.78% off the targeted high while a plunge would see the stock lose 30.56% from current levels.

IMAC Holdings Inc. (IMAC) estimates and forecasts

Figures show that IMAC Holdings Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +126.42% over the past 6 months, with this year growth rate of -14.55%, compared to -1.4% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 22.2% and 42.1% for the next quarter. Revenue growth from the last financial year stood is estimated to be +27.2%.

3 analysts offering their estimates for the company have set an average revenue estimate of $3.7 Million for the current quarter. 3 have an estimated revenue figure of $3.83 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $3.32 Million and $2.57 Million respectively for this quarter and the next, and analysts expect sales will grow by 11.4% for the current quarter and 48.9% for the next.

Earnings growth for 2021 is a modest +46%.

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IMAC Holdings Inc. (NASDAQ:IMAC)’s Major holders

Insiders own 28.93% of the company shares, while shares held by institutions stand at 11.94% with a share float percentage of 16.8%. Investors are also buoyed by the number of investors in a company, with IMAC Holdings Inc. having a total of 12 institutions that hold shares in the company. The top two institutional holders are Geode Capital Management, LLC with over 194.36 Thousand shares worth more than $297.37 Thousand. As of December 30, 2020, Geode Capital Management, LLC held 1.45% of shares outstanding.

The other major institutional holder is Barclays PLC, with the holding of over 94.7 Thousand shares as of December 30, 2020. The firm’s total holdings are worth over $144.89 Thousand and represent 0.71% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Fidelity NASDAQ Composite Index Fund and Vanguard Extended Market Index Fund. As of February 27, 2021, the former fund manager holds about 1.45% shares in the company for having 194361 shares of worth $404.27 Thousand while later fund manager owns 22.77 Thousand shares of worth $34.84 Thousand as of December 30, 2020, which makes it owner of about 0.17% of company’s outstanding stock.

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