Is Assure Holdings Corp (NASDAQ: IONM) Potentially Life-Changing Stock?

In the latest trading session, 0.56 million Assure Holdings Corp (NASDAQ:IONM) shares changed hands as the company’s beta touched 1.47. With the company’s most recent per share price at $0.31 changing hands around $0.02 or 7.44% at last look, the market valuation stands at $1.68M. IONM’s current price is a discount, trading about -3125.81% off its 52-week high of $10.00. The share price had its 52-week low at $0.20, which suggests the last value was 35.48% up since then. When we look at Assure Holdings Corp’s average trading volume, we note the 10-day average is 2.28 million shares, with the 3-month average coming to 1.50 million.

Analysts gave the Assure Holdings Corp (IONM) 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 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended IONM as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Assure Holdings Corp’s EPS for the current quarter is expected to be -$0.15.

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Assure Holdings Corp (NASDAQ:IONM) trade information

Instantly IONM is in green as seen in intraday trades today. With action 7.78%, the performance over the past five days has been green. The jump to weekly highs of 0.5500 on Friday, 11/17/23 added 7.44% to the stock’s daily price. The company’s shares are showing year-to-date downside of -94.04%, with the 5-day performance at 7.78% in the green. However, in the 30-day time frame, Assure Holdings Corp (NASDAQ:IONM) is 24.20% up. Looking at the short shares, we see there were 94550.0 shares sold at short interest cover period of 0.08 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.00, meaning bulls need an upside of 92.25% from its recent market value. According to analyst projections, IONM’s forecast low is $4.00 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -1190.32% plunge from its current level, while the stock would need to soar -1190.32% for it to hit the projected low.

Assure Holdings Corp (IONM) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Assure Holdings Corp will rise 91.70%, while the growth in revenue is estimated to hit 100.10% for the next quarter. Year-over-year growth is forecast to reach 100.40% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $6 million. 1 analysts are of the opinion that Assure Holdings Corp’s revenue for the quarter ending Dec 2023 will be $8.5 million. The company’s revenue for the corresponding quarters a year ago was $6.21 million and -$1.57 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.30%. The estimates for the next quarter sales put growth at -640.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -19.33%.

IONM Dividends

Assure Holdings Corp is expected to release its next quarterly earnings report between November 29 and December 14.

Assure Holdings Corp (NASDAQ:IONM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 18.42% of Assure Holdings Corp shares while 4.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 5.98%. There are 4.88% institutions holding the Assure Holdings Corp stock share, with Sabby Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 1.98% of the shares, roughly 0.13 million IONM shares worth $0.13 million.

Walleye Capital LLC holds the second largest percentage of outstanding shares, with 1.48% or 99314.0 shares worth $94348.0 as of Jun 29, 2023.

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