As of Thursday close, Adamis Pharmaceuticals Corporation’s (NASDAQ:ADMP) stock was up $0.23, moving up 28.56 percent to $1.02. The average number of shares traded per day over the past five days has been 1,471,880 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.2000 fall in that time frame. In the last twenty days, the average volume was 6,261,300, while in the previous 50 days, it was 2,612,030.
Since last month, ADMP stock retreated -49.00%. Shares of the company fell to $0.7700 on 08/16/23, the lowest level in the past month. A 52-week high of $26.18 was reached on 02/28/23 after having rallying from a 52-week low of $0.77. Since the beginning of this year, ADMP’s stock price has dropped by -91.39% or -$10.8310, and marked a new high 16 times. However, the stock has declined by -96.10% since its 52-week high.
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Financial Health
In the three months ended June 29, Adamis Pharmaceuticals Corporation’s quick ratio stood at 0.50, while its current ratio was 0.60, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is -28.80% percent. Based on annual data, ADMP earned -$1.43 million in gross profit and brought in $4.76 million in revenue.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. ADMP’s revenue rose 20.69% to $2.06 million during the quarter, while net income inched up to $1.45 million. While analysts expected Adamis Pharmaceuticals Corporation to report -$0.03 quarterly earnings, the actual figure was -$0.06 per share. During the quarter, the company generated -$6.32 million in EBITDA. The liabilities of Adamis Pharmaceuticals Corporation were 18.76 million at the end of its most recent quarter ended June 29, and its total debt was $0.38 million. The value of shareholders’ equity is $2.49 million.
Technical Picture
This quick technical analysis looks at Adamis Pharmaceuticals Corporation’s (ADMP) price momentum. With a historical volatility rate of 182.78%, the RSI 9-day stood at 41.94% on 17 August.
With respect to its five-day moving average, the current Adamis Pharmaceuticals Corporation price is down by -16.39% percent or -$0.2000. At present, ADMP shares trade -49.25% below its 20-day simple moving average and -87.76% percent below its 100-day simple moving average. However, the stock is currently trading approximately -53.64% below its SMA50 and -89.64% below its SMA200.
Stochastic coefficient K was 1.21% and Stochastic coefficient D was 0.75%, while ATR was 0.4936. Given the Stochastic reading of 3.33% for the 14-day period, the RSI (14) reading has been calculated as 42.27%. As of today, the MACD Oscillator reading stands at -0.2269, while the 14-day reading stands at -0.5454.
Analyst Ratings
Maxim Group upgraded its rating on Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) to a Buy in a note to investors on May 13, 2020. The analysts firm previously had a Hold rating on the stock.Adamis Pharmaceuticals Corporation (ADMP) has been rated Hold by analysts. According to 0 brokerage firms, ADMP is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Adamis Pharmaceuticals Corporation stock as buy, with 0 recommending it as overweight.
With a median target price of $105.00, the current consensus forecast for the stock is $105.00 – $105.00. Based on these forecasts, analysts predict Adamis Pharmaceuticals Corporation (ADMP) will achieve an average price target of $105.00.
