Insider Buying: Psychemedics Co. (NASDAQ:PMD) Director Buys 1,409,712 Shares of Stock

Psychemedics Co. (NASDAQ:PMD) Director Peter Kamin bought 1,409,712 shares of Psychemedics stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $2.35 per share, for a total transaction of $3,312,823.20. Following the completion of the acquisition, the director now directly owns 1,820,418 shares in the company, valued at approximately $4,277,982.30. The trade was a 343.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Psychemedics Trading Down 1.7 %

NASDAQ:PMD traded down $0.04 on Thursday, hitting $2.35. The stock had a trading volume of 219,844 shares, compared to its average volume of 19,795. The business’s fifty day moving average is $2.33 and its 200 day moving average is $2.31. Psychemedics Co. has a 52 week low of $1.63 and a 52 week high of $3.93. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.01.

About Psychemedics

Psychemedics Corporation, together with its subsidiaries, engages in the provision of testing services for the detection of drugs of abuse and other health markers through the analysis of hair samples in the United States and internationally. It offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, and PCP; amphetamines, including ecstasy, eve, and Adderall; opioids, such as heroin metabolite, morphine, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine; synthetic cannabinoids comprising K2, Spice, and Blaze; benzodiazepines consisting of Xanax, Valium, and Ativan; and nicotine, fentanyl and fentanyl analogs, and alcohol.