Analyzing BACK Stock Performance
On Thursday, IMAC Holdings Inc. [NASDAQ: BACK] rose 3.90% to $0.10. The stock’s lowest price that day was $0.092, but it reached a high of $0.106 in the same session. During the last five days, there has been a drop of approximately -7.73%. Over the course of the year, IMAC Holdings Inc. shares have dropped approximately -47.92%. Shares of the company reached a 52-week high of $0.4050 on 01/23/23 and a 52-week low of $0.0910 on 08/23/23. A 50-day SMA is recorded $0.1141, while a 200-day SMA reached $0.1952. Nevertheless, trading volume fell to 3.01 million shares from 0.43 million shares the previous day.
Support And Resistance Levels for IMAC Holdings Inc. (BACK)
According to the 24-hour chart, there is a support level at 0.0953, which, if violated, would cause prices to drop to 0.0866. In the upper region, resistance lies at 0.1093. The next price resistance is at 0.1146. RSI (Relative Strength Index) is 44.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0066, which suggests the price will decrease in the coming days. Percent R is at 55.52%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is IMAC Holdings Inc. subject to short interest?
Stocks of IMAC Holdings Inc. saw a sharp rise in short interest on Jul 30, 2023 jumping by 0.14 million shares to 0.63 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 0.49 million shares. A jump of 22.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.18 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.18.
Which companies own the most shares of IMAC Holdings Inc. (BACK)?
According to Kestra Advisory Services LLC filings, the company currently owns 1,691,504 shares, which is about 5.12% of the total BACK shares outstanding. Geode Capital Management LLC reduced a -0.84% interest valued at $21873.0 while The Vanguard Group, Inc. sold a -133,623 stake. A total of 0 shares of IMAC Holdings Inc. were sold by Resources Investment Advisors LLC during the quarter, and -986,157 were sold by Nantahala Capital Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 40,161 shares valued at $4418.0.
In terms of IMAC Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $1.15 in the next 12 months, up nearly 1050.0% from the previous closing price of $0.10. Analysts anticipate IMAC Holdings Inc. stock to reach $1.15 by 2023, with the lowest price target being $1.15. In spite of this, 1 analysts ranked IMAC Holdings Inc. stock as a Buy at the end of 2023.