Psychemedics (NASDAQ:PMD) Shares Pass Above 200-Day Moving Average of $6.50

Shares of Psychemedics Co. (NASDAQ:PMDGet Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.50 and traded as high as $6.53. Psychemedics shares last traded at $6.53, with a volume of 3,791 shares.

Psychemedics Trading Down 0.5 %

The stock has a market capitalization of $36.60 million, a PE ratio of -30.95 and a beta of 0.56. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $6.48 and a 200-day moving average price of $6.50.

Psychemedics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 24th were issued a $0.07 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 4.31%. Psychemedics’s dividend payout ratio is currently -133.33%.

Hedge Funds Weigh In On Psychemedics

A hedge fund recently raised its stake in Psychemedics stock. Wealth Effects LLC increased its stake in Psychemedics Co. (NASDAQ:PMDGet Rating) by 13.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,301 shares of the company’s stock after purchasing an additional 5,300 shares during the quarter. Wealth Effects LLC owned approximately 0.81% of Psychemedics worth $287,000 at the end of the most recent quarter. 38.13% of the stock is owned by institutional investors and hedge funds.

About Psychemedics

(Get Rating)

Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States, Brazil, and internationally. The company offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, and PCP; amphetamines, including ecstasy, eve, and Adderall; opiates, such as heroin, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine; synthetic cannabinoids comprising K2, Spice, and Blaze; benzodiazepines consisting of Xanax, Valium, and Ativan; and nicotine and Fentanyl.

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