Insider Buying: Psychemedics Co. (NASDAQ:PMD) Major Shareholder Acquires 60,000 Shares of Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne bought 60,000 shares of Psychemedics stock in a transaction dated Monday, December 16th. The stock was acquired 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 of the company’s stock, valued at $1,190,975.32. This trade represents a 11.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 stock was acquired at an average cost of $2.67 per share, with a total value of $200,250.00.
• On Tuesday, December 10th, Powell Anderson Capital Partne bought 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 Price Performance

NASDAQ:PMD traded down $0.05 during trading hours on Tuesday, reaching $2.67. 113,600 shares of the company were exchanged, compared to its average volume of 21,197. The company has a market capitalization of $15.73 million, a P/E ratio of -5.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.59 and a quick ratio of 1.59. The business has a 50 day moving average of $2.39 and a 200 day moving average of $2.31. Psychemedics Co. has a 1-year low of $1.63 and a 1-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.