Simulations Plus (NASDAQ:SLP) Sets New 52-Week Low – What’s Next?

Simulations Plus, Inc. (NASDAQ:SLP)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $26.51 and last traded at $26.51, with a volume of 24606 shares traded. The stock had previously closed at $30.39.

Wall Street Analyst Weigh In

Several research firms have commented on SLP. BTIG Research lowered their target price on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Stephens started coverage on Simulations Plus in a report on Friday, November 15th. They set an “overweight” rating and a $39.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Simulations Plus in a report on Wednesday. Finally, StockNews.com cut Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Simulations Plus currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Simulations Plus Price Performance

The firm has a market capitalization of $504.54 million, a P/E ratio of 51.27 and a beta of 0.80. The business has a 50 day moving average price of $29.78 and a 200 day moving average price of $34.16.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Simulations Plus had a return on equity of 6.16% and a net margin of 14.15%. The company had revenue of $18.70 million for the quarter, compared to the consensus estimate of $19.73 million. During the same period in the previous year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities analysts expect that Simulations Plus, Inc. will post 1.1 EPS for the current year.

Insider Activity at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $31.76, for a total transaction of $635,200.00. Following the sale, the director now owns 3,442,584 shares of the company’s stock, valued at approximately $109,336,467.84. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Simulations Plus by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,317 shares of the technology company’s stock valued at $10,809,000 after buying an additional 11,048 shares during the period. Arizona State Retirement System bought a new stake in Simulations Plus in the second quarter valued at about $218,000. Los Angeles Capital Management LLC bought a new stake in Simulations Plus in the second quarter valued at about $206,000. Wedbush Securities Inc. raised its position in Simulations Plus by 10.5% in the second quarter. Wedbush Securities Inc. now owns 18,025 shares of the technology company’s stock worth $876,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Simulations Plus by 1.5% during the second quarter. Envestnet Asset Management Inc. now owns 54,813 shares of the technology company’s stock worth $2,665,000 after purchasing an additional 784 shares during the period. 78.08% of the stock is owned by institutional investors.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.