What Is The Performance Outlook For LogicMark Inc (NASDAQ: LGMK) In The Coming Months?

In the latest trading session, 3.98 million LogicMark Inc (NASDAQ:LGMK) shares changed hands as the company’s beta touched 1.88. With the company’s most recent per share price at $1.93 changing hands around $0.26 or 15.57% at last look, the market valuation stands at $2.74M. LGMK’s current price is a discount, trading about -651.3% off its 52-week high of $14.50. The share price had its 52-week low at $1.50, which suggests the last value was 22.28% up since then. When we look at LogicMark Inc’s average trading volume, we note the 10-day average is 20830.0 shares, with the 3-month average coming to 81.15K.

Analysts gave the LogicMark Inc (LGMK) stock a consensus recommendation rating of a Hold. 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, 1 recommended LGMK as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. LogicMark Inc’s EPS for the current quarter is expected to be $0.

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LogicMark Inc (NASDAQ:LGMK) trade information

Instantly LGMK is in green as seen in intraday trades today. With action 16.97%, the performance over the past five days has been green. The jump to weekly highs of 2.1500 on Friday, 11/17/23 added 15.57% to the stock’s daily price. The company’s shares are showing year-to-date downside of -78.37%, with the 5-day performance at 16.97% in the green. However, in the 30-day time frame, LogicMark Inc (NASDAQ:LGMK) is 4.32% up. Looking at the short shares, we see there were 24520.0 shares sold at short interest cover period of 0.4 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.50, meaning bulls need an upside of 44.86% from its recent market value. According to analyst projections, LGMK’s forecast low is $3.50 with $3.50 as the target high. To hit the forecast high, the stock’s price needs a -81.35% plunge from its current level, while the stock would need to soar -81.35% for it to hit the projected low.

LogicMark Inc (LGMK) estimates and forecasts

Data shows that the LogicMark Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -38.14% over the past 6 months, a 50.79% in annual growth rate that is considerably higher than the industry average of 19.50%.

1 analysts are of the opinion that LogicMark Inc’s revenue for the quarter ending Dec 2023 will be $2.28T.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 35.94%.

LGMK Dividends

LogicMark Inc is expected to release its next quarterly earnings report between November 08 and November 13.

LogicMark Inc (NASDAQ:LGMK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 9.61% of LogicMark Inc shares while 7.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.92%. There are 7.16% institutions holding the LogicMark Inc stock share, with Hudson Bay Capital Management Lp the top institutional holder. As of Jun 29, 2023, the company held 30.51% of the shares, roughly 0.4 million LGMK shares worth $1.18 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 1.44% or 19057.0 shares worth $55646.0 as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 18939.0 shares estimated at $55301.0 under it, the former controlled 1.43% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.19% of the shares, roughly 2556.0 shares worth around $7105.0.

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