Amarin Corporation plc (NASDAQ:AMRN) finished Wednesday with a subtraction of $0.0 to close at $1.06, a downside of 0.00 percent. An average of 1,842,080 shares of common stock have been traded in the last five days. The last 20 days have seen an average of 2,531,655 shares traded, while the 50-day average volume stands at 2,761,750.
AMRN stock has decreased by -6.19% in the last month. The company shares reached their 1-month lowest point of $0.9611 on 08/15/23. With the stock rallying to its 52-week high on 02/08/23, shares of the company touched a low of $0.96 and a high of $2.23 in 52 weeks. It has reached a new high 11 times so far this year and lost -12.40% or -$0.1500 in price. In spite of this, the price is down -52.47% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Valuation Metrics
Amarin Corporation plc (AMRN) stock’s beta is 1.77. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.17, the price-to-book (PB) ratio at 0.76.
Financial Health
The quick ratio of Amarin Corporation plc for the three months ended June 29 was 1.80, and the current ratio was 2.60, 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. Amarin Corporation plc’s EBITDA margin for the year ending June 29 is -24.17%, while its operating margin for the same period stands at -16.20%. Its gross profit as reported stood at $242.48 million compared to revenue of $369.19 million.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$17.56 million in the quarter, while revenues of -$16.46 million were shrunk -298.41%. The analyst consensus anticipated Amarin Corporation plc’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.04, a -33.30% surprise. For the quarter, EBITDA amounted to -$23.23 million. Shareholders own equity worth $387.5 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Amarin Corporation plc (AMRN) price momentum. RSI 9-day as of the close on 23 August was 37.22%, suggesting the stock is Neutral, with historical volatility in this time frame at 25.01%.
As of today, AMRN’s price is $1.0560 unch or $unch from its 5-day moving average. AMRN is currently trading -7.02% lower than its 20-day SMA and -31.17% lower than its 100-day SMA. However, the stock’s current price level is -16.54% below the SMA50 and -9.40% below the SMA200.
The stochastic %K and %D were 41.07% and 38.21%, respectively, and the average true range (ATR) was 0.0545. With the 14-day stochastic at 39.73% and the average true range at 0.0585, the RSI (14) stands at 39.91%. The stock has reached -0.0011 on the 9-day MACD Oscillator while the 14-day reading was at -0.0331.
Analyst Ratings
Jefferies upgraded Amarin Corporation plc (NASDAQ: AMRN) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Amarin Corporation plc (AMRN) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell AMRN, while 2 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 AMRN’s price target for the next 12 months?
Analysts predict a range of price targets between $1.00 and $5.00, with a median target of $2.00. Taking a look at these predictions, the average price target given by analysts for Amarin Corporation plc (AMRN) stock is $2.45.
