Short Interest in LogicMark, Inc. (NASDAQ:LGMK) Declines By 97.4%

LogicMark, Inc. (NASDAQ:LGMK) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 100,400 shares, a decrease of 97.4% from the October 31st total of 3,810,000 shares. Currently, 20.5% of the shares of the company are sold short. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at LogicMark

In related news, major shareholder Winvest Investment Fund Manage acquired 13,444 shares of the stock in a transaction on Wednesday, October 9th. The shares were acquired at an average price of $2.50 per share, for a total transaction of $33,610.00. Following the transaction, the insider now owns 37,828 shares in the company, valued at approximately $94,570. This trade represents a 55.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.47% of the stock is owned by insiders.

LogicMark Price Performance

LGMK stock traded up $0.05 during midday trading on Thursday, hitting $1.78. 260,085 shares of the stock traded hands, compared to its average volume of 337,178. The firm has a market cap of $3.29 million, a P/E ratio of -0.01 and a beta of 1.25. The stock’s fifty day simple moving average is $2.93 and its 200-day simple moving average is $9.07. LogicMark has a 1-year low of $1.64 and a 1-year high of $32.48.

LogicMark (NASDAQ:LGMK) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($5.00) EPS for the quarter, beating the consensus estimate of ($10.75) by $5.75. The business had revenue of $2.71 million during the quarter, compared to analyst estimates of $2.44 million. LogicMark had a negative net margin of 141.96% and a negative return on equity of 124.91%. During the same quarter last year, the firm posted ($27.50) earnings per share. On average, research analysts predict that LogicMark will post -54.25 earnings per share for the current year.

About LogicMark

LogicMark, Inc provides personal emergency response systems (PERS), health communications devices, and Internet of Things (IoT) technology that creates a connected care platform in the United States. The company’s devices provide people with the ability to receive care at home and age independently and to check, manage, and monitor a loved one’s health and safety remotely.