Psychemedics Co. (NASDAQ:PMD) Major Shareholder Powell Anderson Capital Partne Purchases 60,000 Shares of Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne acquired 60,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $1.97 per share, with a total value of $118,200.00. Following the transaction, the insider now owns 604,556 shares in the company, valued at approximately $1,190,975.32. This trade represents a 11.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more 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 purchased 75,000 shares of Psychemedics stock. The shares were acquired at an average price of $2.67 per share, with a total value of $200,250.00.
• On Tuesday, December 10th, Powell Anderson Capital Partne purchased 7,473 shares of Psychemedics stock. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $19,355.07.

Psychemedics Stock Performance

PMD opened at $2.67 on Wednesday. Psychemedics Co. has a 12-month low of $1.63 and a 12-month high of $3.93. The business has a 50 day moving average of $2.39 and a 200-day moving average of $2.31. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.01. The stock has a market cap of $15.73 million, a price-to-earnings ratio of -5.24 and a beta of 0.65.

About Psychemedics

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.