As of Friday close, Silk Road Medical Inc’s (NASDAQ:SILK) stock was up $0.49, moving up 2.36 percent to $21.25. The average number of shares traded per day over the past five days has been 509,780 shares. 5 times new highs have been achieved over the past 5 days, with a $1.50 gain in that time frame. In the last twenty days, the average volume was 788,335, while in the previous 50 days, it was 973,636.
Since last month, SILK stock rose 4.50%. Shares of the company fell to $19.42 on 08/14/23, the lowest level in the past month. A 52-week high of $58.04 was reached on 01/13/23 after having rallying from a 52-week low of $19.42. Since the beginning of this year, SILK’s stock price has dropped by -59.79% or -$31.60, and marked a new high 4 times. However, the stock has declined by -63.39% since its 52-week high.
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SILK stock investors should be aware that Silk Road Medical Inc (SILK) stock had its last reported insider trading activity 2 days ago on Aug 17. Klemz Kevin M, the EVP/Chief Legal Officer/Sec. of the company, disposed of 1,539 shares for $20.11 on Aug 17. It resulted in a $30,942 divestment by the insider. Davis Andrew S. sold 6,587 shares at an average price of $22.13 on Aug 03. The insider now owns 109,534 shares following the transaction. On Jul 11, President and CEO Rogers Erica J. sold 1,000 shares at $31.56 apiece. The transaction was valued at $31,560.
Valuation Metrics
The stock’s beta is 1.15. Besides these, the trailing price-to-sales (P/S) ratio of 5.05, the price-to-book (PB) ratio of 5.30.
Financial Health
In the three months ended June 29, Silk Road Medical Inc’s quick ratio stood at 8.90, while its current ratio was 9.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.48, and the total debt-to-equity ratio was 0.48. On the profitability front, the trailing twelve-month gross margin is 71.90% percent. In the year ended June 29, EBITDA margin amounted to -35.23%, whereas operating margins totaled -32.60%. Based on annual data, SILK earned $100.76 million in gross profit and brought in $138.64 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -21.90%. Return on equity (ROE) for the past 12 months was -39.60%.
In Silk Road Medical Inc’s quarter-end financial report for June 29, it reported total debt of $75.1 million against cash and short-term investments of $159.96 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SILK’s revenue rose 26.76% to $40.13 million during the quarter, while net income inched up to $45.29 million. While analysts expected Silk Road Medical Inc to report -$0.39 quarterly earnings, the actual figure was -$0.35 per share, beating the consensus estimate by 10.30%. During the quarter, the company generated -$14.91 million in EBITDA. The liabilities of Silk Road Medical Inc were 107.86 million at the end of its most recent quarter ended June 29, and its total debt was $84.76 million. The value of shareholders’ equity is $38.83 million.
Technical Picture
This quick technical analysis looks at Silk Road Medical Inc’s (SILK) price momentum. With a historical volatility rate of 29.17%, the RSI 9-day stood at 50.78% on 18 August.
With respect to its five-day moving average, the current Silk Road Medical Inc price is up by +7.59% percent or $1.50. At present, SILK shares trade +4.68% above its 20-day simple moving average and -45.02% percent below its 100-day simple moving average. However, the stock is currently trading approximately -32.84% below its SMA50 and -51.79% below its SMA200.
Stochastic coefficient K was 32.97% and Stochastic coefficient D was 22.89%, while ATR was 0.92. Given the Stochastic reading of 46.45% for the 14-day period, the RSI (14) reading has been calculated as 42.46%. As of today, the MACD Oscillator reading stands at 0.51, while the 14-day reading stands at 0.03.
Analyst Ratings
Silk Road Medical Inc downgraded its rating on Silk Road Medical Inc (NASDAQ: SILK) to a Neutral in a note to investors on July 12, 2023. The analysts firm previously had an Overweight rating on the stock.Silk Road Medical Inc (SILK) has been rated Overweight by analysts. According to 1 brokerage firm, SILK is a sell, and 2 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Silk Road Medical Inc stock as buy, with 5 recommending it as overweight.
With a median target price of $35.00, the current consensus forecast for the stock is $13.00 – $54.00. Based on these forecasts, analysts predict Silk Road Medical Inc (SILK) will achieve an average price target of $33.00.
