As of Wednesday close, MannKind Corporation’s (NASDAQ:MNKD) stock was up $0.07, moving up 1.50 percent to $4.74. The average number of shares traded per day over the past five days has been 2,176,020 shares. 3 times new highs have been achieved over the past 5 days, with a $0.11 gain in that time frame. In the last twenty days, the average volume was 4,001,180, while in the previous 50 days, it was 2,889,830.
Since last month, MNKD stock rose 5.57%. Shares of the company fell to $4.39 on 08/02/23, the lowest level in the past month. A 52-week high of $5.75 was reached on 08/09/23 after having rallying from a 52-week low of $2.91. Since the beginning of this year, MNKD’s stock price has dropped by -10.06% or -$0.53, and marked a new high 6 times. However, the stock has declined by -17.57% since its 52-week high.
MNKD stock investors should be aware that MannKind Corporation (MNKD) stock had its last reported insider trading activity 3 days ago on Aug 28. Thomson David, the EVP Genl Counsel & Secretary of the company, disposed of 8,100 shares for $4.78 on Aug 28. It resulted in a $38,738 divestment by the insider. Castagna Michael sold 10,000 shares at an average price of $4.57 on Aug 01. The insider now owns 2,496,735 shares following the transaction. On Jul 03, Chief Executive Officer Castagna Michael sold 10,000 shares at $4.07 apiece. The transaction was valued at $40,701.
Financial Health
In the three months ended June 29, MannKind Corporation’s quick ratio stood at 2.10, while its current ratio was 2.40, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 59.50% percent. In the year ended June 29, EBITDA margin amounted to -62.78%, whereas operating margins totaled -16.90%. Based on annual data, MNKD earned $42.27 million in gross profit and brought in $99.77 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 -50.40%. Return on equity (ROE) for the past 12 months was 18.90%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MNKD’s revenue rose 61.14% to $40.63 million during the quarter, while net income inched up to $48.61 million. While analysts expected MannKind Corporation to report -$0.04 quarterly earnings, the actual figure was -$0.02 per share. During the quarter, the company generated $2.5 million in EBITDA. The liabilities of MannKind Corporation were 573.91 million at the end of its most recent quarter ended June 29, and its total debt was $383.16 million. The value of shareholders’ equity is $268.36 million.
Technical Picture
This quick technical analysis looks at MannKind Corporation’s (MNKD) price momentum. With a historical volatility rate of 43.88%, the RSI 9-day stood at 47.00% on 30 August.
With respect to its five-day moving average, the current MannKind Corporation price is up by +2.38% percent or $0.11. At present, MNKD shares trade +3.27% above its 20-day simple moving average and +14.22% percent above its 100-day simple moving average. However, the stock is currently trading approximately +17.91% above its SMA50 and +11.53% above its SMA200.
Stochastic coefficient K was 23.12% and Stochastic coefficient D was 20.98%, while ATR was 0.21. Given the Stochastic reading of 29.09% for the 14-day period, the RSI (14) reading has been calculated as 49.78%. As of today, the MACD Oscillator reading stands at -0.01, while the 14-day reading stands at -0.16.
Analyst Ratings
RBC Capital Mkts launched its rating on MannKind Corporation (NASDAQ: MNKD) to a Sector perform in a note to investors on May 14, 2021. MannKind Corporation (MNKD) has been rated Buy by analysts. According to 0 brokerage firms, MNKD 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 MannKind Corporation stock as buy, with 4 recommending it as overweight.
With a median target price of $7.00, the current consensus forecast for the stock is $5.00 – $7.50. Based on these forecasts, analysts predict MannKind Corporation (MNKD) will achieve an average price target of $6.70.
