Value gained By InMed Pharmaceuticals Inc. (INM) In The Past Week: $2.0800

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InMed Pharmaceuticals Inc. (NASDAQ:INM) traded with an addition of $0.41 to close at $2.00 on Friday, an upside of 26.09 percent. An average of 425,819 shares of common stock have been traded in the last five days. There was a gain of $0.5197 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 143,735 shares traded, while the 50-day average volume stands at 812,638.

INM stock has decreased by -38.76% in the last month. The company shares reached their 1-month lowest point of $1.2300 on 12/27/22. With the stock rallying to its 52-week high on 01/05/22, shares of the company touched a low of $1.23 and a high of $35.71 in 52 weeks. It has reached a new high 2 times so far this year and lost -95.16% or -$30.6703 in price. In spite of this, the price is down -94.40% from the 52-week high.

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Valuation Metrics

InMed Pharmaceuticals Inc. (INM) stock’s beta is 1.01. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.46, the price-to-book (PB) ratio at 0.12.

Financial Health

The quick ratio of InMed Pharmaceuticals Inc. for the three months ended June 29 was 3.00, and the current ratio was 3.50, 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 0.00 for the quarter ending June 29. Its gross profit as reported stood at $0.54 million compared to revenue of $1.09 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, InMed Pharmaceuticals Inc.’s return on assets was -123.00%.

Earnings Surprise

For the three-month period that ended June 29, InMed Pharmaceuticals Inc. had $40000.0 in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$7.87 million in the quarter, while revenues of -$3.48 million were grew 100.0%. The analyst consensus anticipated InMed Pharmaceuticals Inc.’s latest quarter earnings to come in at -$5.5 per share, but it turned out to be -$14.03, a -155.10% surprise. For the quarter, EBITDA amounted to -$3.43 million. Shareholders own equity worth $0.94 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at InMed Pharmaceuticals Inc. (INM) price momentum. RSI 9-day as of the close on 29 December was 59.58%, suggesting the stock is Neutral, with historical volatility in this time frame at 188.53%.

As of today, INM’s price is $1.5512 +33.31% or $0.5197 from its 5-day moving average. INM is currently trading -22.69% lower than its 20-day SMA and -78.69% lower than its 100-day SMA. However, the stock’s current price level is -56.12% below the SMA50 and -88.11% below the SMA200.

The stochastic %K and %D were 48.27% and 25.77%, respectively, and the average true range (ATR) was 0.3156. With the 14-day stochastic at 95.47% and the average true range at 0.3489, the RSI (14) stands at 48.98%. The stock has reached 0.1158 on the 9-day MACD Oscillator while the 14-day reading was at -0.0008.

Analyst Ratings

The consensus rating for InMed Pharmaceuticals Inc. (INM) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell INM, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.

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