Are CorMedix Inc (NASDAQ: CRMD) Shares Ready For A Price Rise?

In the last trading session, 2.29 million CorMedix Inc (NASDAQ:CRMD) shares changed hands as the company’s beta touched 1.95. With the company’s per share price at $4.01 changed hands at $0.21 or 5.53% during last session, the market valuation stood at $219.79M. CRMD’s last price was a discount, traded about -51.87% off its 52-week high of $6.09. The share price had its 52-week low at $2.57, which suggests the last value was 35.91% up since then. When we look at CorMedix Inc’s average trading volume, we note the 10-day average is 2.51 million shares, with the 3-month average coming to 752.72K.

Analysts gave the CorMedix Inc (CRMD) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CRMD as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. CorMedix Inc’s EPS for the current quarter is expected to be -$0.19.

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CorMedix Inc (NASDAQ:CRMD) trade information

Instantly CRMD was in green as seen at the end of in last trading. With action 24.53%, the performance over the past five days has been green. The jump to weekly highs of 4.34 on Friday, 11/17/23 added 5.53% to the stock’s daily price. The company’s shares are showing year-to-date downside of -4.98%, with the 5-day performance at 24.53% in the green. However, in the 30-day time frame, CorMedix Inc (NASDAQ:CRMD) is 24.15% up. Looking at the short shares, we see there were 5.69 million shares sold at short interest cover period of 12.67 days.

The consensus price target for the stock as assigned by Wall Street analysts is $14.25, meaning bulls need an upside of 71.86% from its current market value. According to analyst projections, CRMD’s forecast low is $10.00 with $19.00 as the target high. To hit the forecast high, the stock’s price needs a -373.82% plunge from its current level, while the stock would need to soar -149.38% for it to hit the projected low.

CorMedix Inc (CRMD) estimates and forecasts

Data shows that the CorMedix Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -21.37% over the past 6 months, a -8.11% in annual growth rate that is considerably lower than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for CorMedix Inc will rise 5.00%, while the growth in revenue is estimated to hit 16.70% for the next quarter. Year-over-year growth is forecast to reach -484.60% down from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of -$250k. The company’s revenue for the corresponding quarters a year ago was $29k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -962.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 24.47%. The 2023 estimates are for CorMedix Inc earnings to decrease by -12.84%.

CRMD Dividends

CorMedix Inc is expected to release its next quarterly earnings report on November 14.

CorMedix Inc (NASDAQ:CRMD)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.86% of CorMedix Inc shares while 21.10% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 21.28%. There are 21.10% institutions holding the CorMedix Inc stock share, with Nomura Holdings Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.39% of the shares, roughly 2.95 million CRMD shares worth $11.7 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.97% or 2.72 million shares worth $10.8 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1.65 million shares estimated at $6.54 million under it, the former controlled 3.01% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.84% of the shares, roughly 1.01 million shares worth around $4.11 million.

On Key

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