IMAC Holdings, Inc. (NASDAQ:IMAC) traded up 1.5% during trading on Wednesday . The stock traded as high as $2.09 and last traded at $2.03. 462,426 shares traded hands during trading, a decline of 4% from the average session volume of 480,542 shares. The stock had previously closed at $2.00.
Several equities research analysts recently issued reports on IMAC shares. Zacks Investment Research raised IMAC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 19th. Alliance Global Partners reduced their price objective on IMAC from $3.10 to $2.35 and set a “buy” rating for the company in a research note on Friday, April 9th.
The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $1.77. The firm has a market capitalization of $50.65 million, a PE ratio of -4.67 and a beta of -2.01.
In other news, COO Matthew C. Wallis sold 400,000 shares of the stock in a transaction dated Wednesday, April 7th. The stock was sold at an average price of $1.60, for a total transaction of $640,000.00. Following the transaction, the chief operating officer now owns 1,751,694 shares of the company’s stock, valued at approximately $2,802,710.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the company. Warberg Asset Management LLC acquired a new position in shares of IMAC during the 1st quarter valued at about $27,000. UBS Group AG grew its holdings in IMAC by 300.3% in the 1st quarter. UBS Group AG now owns 26,753 shares of the company’s stock valued at $44,000 after buying an additional 20,069 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in IMAC in the 4th quarter valued at approximately $46,000. Trustcore Financial Services LLC acquired a new stake in IMAC in the 4th quarter valued at approximately $49,000. Finally, Millennium Management LLC acquired a new stake in IMAC in the 1st quarter valued at approximately $76,000. 28.58% of the stock is currently owned by institutional investors and hedge funds.
About IMAC (NASDAQ:IMAC)
IMAC Holdings, Inc provides orthopedic therapies through a chain of innovative medical advancements and care regeneration centers in the United States. Its outpatient medical clinics provide regenerative, orthopedic, and minimally invasive procedures and therapies to patients with sports injuries, ligament and tendon damage, and other related soft tissue conditions, as well as back, knee, and joint pains.
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