Insider Buying: Psychemedics Co. (NASDAQ:PMD) Major Shareholder Purchases $118,200.00 in Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne bought 60,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $1.97 per share, with a total value of $118,200.00. Following the completion of the purchase, the insider now owns 604,556 shares in the company, valued at approximately $1,190,975.32. This represents a 11.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Powell Anderson Capital Partne also recently made the following trade(s):

• On Thursday, December 12th, Powell Anderson Capital Partne acquired 75,000 shares of Psychemedics stock. The shares were acquired at an average cost of $2.67 per share, for a total transaction of $200,250.00.
• On Tuesday, December 10th, Powell Anderson Capital Partne bought 7,473 shares of Psychemedics stock. The stock was acquired at an average cost of $2.59 per share, with a total value of $19,355.07.

Psychemedics Price Performance

Shares of NASDAQ PMD opened at $2.67 on Friday. The company’s fifty day moving average is $2.41 and its two-hundred day moving average is $2.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market capitalization of $15.73 million, a P/E ratio of -5.24 and a beta of 0.65. Psychemedics Co. has a one year low of $1.63 and a one year high of $3.93.

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.