Is Nemaura Medical Inc (NASDAQ: NMRD) the next life-changing stock to watch out for?

In the latest trading session, 0.66 million Nemaura Medical Inc (NASDAQ:NMRD) shares changed hands as the company’s beta touched 0.36. With the company’s most recent per share price at $0.26 changing hands around $0.02 or 10.08% at last look, the market valuation stands at $7.51M. NMRD’s current price is a discount, trading about -1219.23% off its 52-week high of $3.43. The share price had its 52-week low at $0.23, which suggests the last value was 11.54% up since then. When we look at Nemaura Medical Inc’s average trading volume, we note the 10-day average is 49220.0 shares, with the 3-month average coming to 226.53K.

Analysts gave the Nemaura Medical Inc (NMRD) 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 NMRD as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Nemaura Medical Inc’s EPS for the current quarter is expected to be -$0.11.

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Nemaura Medical Inc (NASDAQ:NMRD) trade information

Instantly NMRD is in green as seen in intraday trades today. With action 4.88%, the performance over the past five days has been green. The jump to weekly highs of 0.2800 on Monday, 11/20/23 added 10.08% to the stock’s daily price. The company’s shares are showing year-to-date downside of -84.86%, with the 5-day performance at 4.88% in the green. However, in the 30-day time frame, Nemaura Medical Inc (NASDAQ:NMRD) is -0.38% down. Looking at the short shares, we see there were 0.19 million shares sold at short interest cover period of 2.11 days.

The consensus price target for the stock as assigned by Wall Street analysts is $8.50, meaning bulls need an upside of 96.94% from its recent market value. According to analyst projections, NMRD’s forecast low is $8.50 with $8.50 as the target high. To hit the forecast high, the stock’s price needs a -3169.23% plunge from its current level, while the stock would need to soar -3169.23% for it to hit the projected low.

Nemaura Medical Inc (NMRD) estimates and forecasts

Data shows that the Nemaura Medical 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 -55.95% over the past 6 months, a 35.09% in annual growth rate that is considerably higher than the industry average of 10.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Nemaura Medical Inc will fall -57.10%, while the growth in revenue is estimated to hit 44.40% for the next quarter. Year-over-year growth is forecast to reach 679.20% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $100k. 2 analysts are of the opinion that Nemaura Medical Inc’s revenue for the quarter ending Mar 2024 will be $450k.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -41.56%. The 2023 estimates are for Nemaura Medical Inc earnings to increase by 22.81%.

NMRD Dividends

Nemaura Medical Inc is expected to release its next quarterly earnings report on November 13.

Nemaura Medical Inc (NASDAQ:NMRD)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 49.07% of Nemaura Medical Inc shares while 11.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 22.09%. There are 11.25% institutions holding the Nemaura Medical Inc stock share, with Alyeska Investment Group, L.p. the top institutional holder. As of Sep 29, 2023, the company held 6.38% of the shares, roughly 1.84 million NMRD shares worth $0.48 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 0.44% or 0.13 million shares worth $32937.0 as of Sep 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 0.13 million shares estimated at $32937.0 under it, the former controlled 0.44% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.23% of the shares, roughly 67468.0 shares worth around $17541.0.

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