As published in their initiating research note from Oppenheimer on April 07, 2021, Titan Medical Inc. [TMDI] has been an Outperform and the price target has been revised to $4. This represents a 94.75% premium over Thursday’s closing price. Analysts at Piper Jaffray started covering the stock with ‘”an Overweight”‘ outlook in a report released in late May.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Analyzing TMDI Stock Performance
On Thursday, Titan Medical Inc. [NASDAQ: TMDI] plunged -15.51% to $0.21. The stock’s lowest price that day was $0.201, but it reached a high of $0.2458 in the same session. During the last five days, there has been a drop of approximately -15.51%. Over the course of the year, Titan Medical Inc. shares have dropped approximately -68.66%. Shares of the company reached a 52-week high of $1.2000 on 01/10/23 and a 52-week low of $0.1303 on 02/14/23. A 50-day SMA is recorded $0.6930, while a 200-day SMA reached $0.5454. Nevertheless, trading volume fell to 2.29 million shares from 4.82 million shares the previous day.
Support And Resistance Levels for Titan Medical Inc. (TMDI)
According to the 24-hour chart, there is a support level at 0.1901, which, if violated, would cause prices to drop to 0.1731. In the upper region, resistance lies at 0.2349. The next price resistance is at 0.2627. RSI (Relative Strength Index) is 30.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1369, which suggests the price will decrease in the coming days. Percent R is at 90.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Titan Medical Inc. subject to short interest?
Stocks of Titan Medical Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by 46170.0 shares to 0.25 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 0.3 million shares. A decline of -18.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.52 of the overall float, the days-to-cover ratio (short ratio) decline to 0.52.
Which companies own the most shares of Titan Medical Inc. (TMDI)?
In terms of Titan Medical Inc. share price expectations, FactSet research, analysts set an average price target of $2.50 in the next 12 months, up nearly 900.0% from the previous closing price of $0.25. Analysts anticipate Titan Medical Inc. stock to reach $3.00 by 2023, with the lowest price target being $2.00. In spite of this, 1 analysts ranked Titan Medical Inc. stock as a Hold at the end of 2023.