Psychemedics Co. (NASDAQ:PMD) Sees Large Decrease in Short Interest

Psychemedics Co. (NASDAQ:PMD) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 13,900 shares, a decrease of 43.3% from the October 15th total of 24,500 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 38,700 shares, the short-interest ratio is currently 0.4 days.

Psychemedics Stock Performance

PMD stock remained flat at $2.34 during midday trading on Wednesday. The company’s stock had a trading volume of 35,819 shares, compared to its average volume of 17,638. The company has a market capitalization of $13.79 million, a PE ratio of -4.61 and a beta of 0.65. Psychemedics has a 12-month low of $1.63 and a 12-month high of $3.93. The firm has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.34.

Psychemedics (NASDAQ:PMD) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $4.73 million during the quarter. Psychemedics had a negative return on equity of 47.50% and a negative net margin of 14.59%.

Psychemedics Company Profile

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.