Zomedica Corp (AMEX: ZOM): Stock Forecast For 2024 Remains Weak With A Downward Revision Of 35.3%

ZM Stock

In the last trading session, 4.37 million shares of the Zomedica Corp (AMEX:ZOM) were traded, and its beta was 1.01. Most recently the company’s share price was $0.14, and it changed around $0.0 or 2.10% from the last close, which brings the market valuation of the company to $138.07M. ZOM currently trades at a discount to its 52-week high of $0.27, offering almost -92.86% off that amount. The share price’s 52-week low was $0.12, which indicates that the current value has risen by an impressive 14.29% since then. We note from Zomedica Corp’s average daily trading volume that its 10-day average is 7.1 million shares, with the 3-month average coming to 6.21 million.

Zomedica Corp (AMEX:ZOM) trade information

Instantly ZOM has showed a green trend with a performance of 2.10% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -29.62% year-to-date, but still down -9.10% over the last five days. On the other hand, Zomedica Corp (AMEX:ZOM) is 11.21% up in the 30-day period. We can see from the shorts that 57.05 million shares have been sold at a short interest cover period of 11.28 day(s).

Zomedica Corp (ZOM) estimates and forecasts

Zomedica Corp share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -22.03 percent over the past six months and at a 0.00% annual growth rate that is well below the industry average of 4.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 28.01%.

ZOM Dividends

Zomedica Corp’s next quarterly earnings report is expected to be released around March 13 and March 18.

Zomedica Corp (AMEX:ZOM)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.64% of Zomedica Corp shares, and 9.17% of them are in the hands of institutional investors. The stock currently has a share float of 9.32%. Zomedica Corp stock is held by 95 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 4.98% of the shares, which is about 48.81 million shares worth $9.76 million.

Blackrock Inc., with 1.17% or 11.51 million shares worth $2.3 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 33.69 million shares worth $6.74 million, making up 3.44% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 13.32 million shares worth around $2.66 million, which represents about 1.36% of the total shares outstanding.