Buying Enveric Biosciences Inc. (ENVB) Stock Is A Smart Move Today?

Enveric Biosciences Inc. (NASDAQ:ENVB) finished Wednesday with an addition of $0.06 to close at $2.04, an upside of 3.03 percent. An average of 1,293,120 shares of common stock have been traded in the last five days. There was a gain of $0.2200 in the past week. The last 20 days have seen an average of 2,186,005 shares traded, while the 50-day average volume stands at 4,573,348.

ENVB stock has decreased by -31.31% in the last month. The company shares reached their 1-month lowest point of $1.7300 on 10/06/21. With the stock rallying to its 52-week high on 03/10/21, shares of the company touched a low of $1.54 and a high of $15.04 in 52 weeks. In spite of this, the price is down -86.44% from the 52-week high.


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Valuation Metrics

Enveric Biosciences Inc. (ENVB) has a trailing price-to-earnings (P/E) ratio of 0.71, which compares with the 34.65 for the broader industry and 32.30 for the sector. The stock’s beta is 1.68. Other valuation ratios to consider include the price-to-book (PB) ratio at 2.32.

The quick ratio of Enveric Biosciences Inc. for the three months ended June 29 was 18.40, and the current ratio was 18.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.01 for the quarter ending June 29.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. Enveric Biosciences Inc.’s return on assets was -30.3% over the last five years. For the broader industry, ROE averaged -68.79 over the past year.

Earnings Surprise

The analyst consensus anticipated Enveric Biosciences Inc.’s latest quarter earnings to come in at -$0.17 per share, but it turned out to be -$0.04, a 76.50% surprise. For the quarter, EBITDA amounted to -$3.19 million. Shareholders own equity worth $21.43 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Enveric Biosciences Inc. (ENVB) price momentum. RSI 9-day as of the close on 13 October was 47.35%, suggesting the stock is Neutral, with historical volatility in this time frame at 63.19%.

As of today, ENVB’s price is $1.9400 +12.09% or $0.2200 from its 5-day moving average. ENVB is currently trading -23.02% lower than its 20-day SMA and -25.00% lower than its 100-day SMA. However, the stock’s current price level is +6.25% above the SMA50 and -86.22% below the SMA200.

The stochastic %K and %D were 38.77% and 31.18%, respectively, and the average true range (ATR) was 0.2000. With the 14-day stochastic at 47.91% and the average true range at 0.2300, the RSI (14) stands at 46.05%. The stock has reached 0.0600 on the 9-day MACD Oscillator while the 14-day reading was at -0.0200.

Analyst Ratings

The consensus rating for Enveric Biosciences Inc. (ENVB) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ENVB, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is ENVB’s price target for the next 12 months?

Analysts predict a range of price targets between $6.00 and $7.00, with a median target of $6.50. Taking a look at these predictions, the average price target given by analysts for Enveric Biosciences Inc. (ENVB) stock is $6.50.

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