Lapides Asset Management LLC acquired a new stake in Psychemedics Corp. (NASDAQ:PMD) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 18,600 shares of the company’s stock, valued at approximately $103,000.
Separately, Verus Capital Partners LLC acquired a new position in shares of Psychemedics in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 47.58% of the company’s stock.
Shares of NASDAQ PMD traded down $0.31 during midday trading on Friday, hitting $4.61. The stock had a trading volume of 9,550 shares, compared to its average volume of 23,285. The company has a market capitalization of $25.47 million, a price-to-earnings ratio of 32.93 and a beta of 0.85. Psychemedics Corp. has a 1-year low of $4.51 and a 1-year high of $10.69. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $5.33 and a 200 day moving average price of $6.66.
Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States and internationally. The company's tests provide quantitative information that can indicate the approximate amount of drug ingested, as well as historical data, which can show a pattern of individual drug use over a longer period of time.
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