Psychemedics (NASDAQ:PMD) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Psychemedics Co. (NASDAQ:PMD)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.36 and traded as high as $2.77. Psychemedics shares last traded at $2.67, with a volume of 113,600 shares changing hands.

Psychemedics Trading Down 1.8 %

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $15.73 million, a P/E ratio of -5.24 and a beta of 0.65. The company has a 50-day moving average price of $2.52 and a 200 day moving average price of $2.36.

Insiders Place Their Bets

In related news, Director Peter Kamin sold 320,708 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $2.35, for a total transaction of $753,663.80. Following the transaction, the director now directly owns 1,499,710 shares of the company’s stock, valued at $3,524,318.50. This represents a 17.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Powell Anderson Capital Partne purchased 60,000 shares of the stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $1.97 per share, with a total value of $118,200.00. Following the acquisition, the insider now owns 604,556 shares of the company’s stock, valued at approximately $1,190,975.32. This represents a 11.02 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,552,185 shares of company stock worth $3,650,628. 13.96% of the stock is owned by corporate insiders.

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.