Insider Buying: Psychemedics Co. (NASDAQ:PMD) Major Shareholder Acquires $200,250.00 in Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne purchased 75,000 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $2.67 per share, with a total value of $200,250.00. Following the transaction, the insider now owns 494,556 shares of the company’s stock, valued at $1,320,464.52. This trade represents a 17.88 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own more than 10% 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 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 Price Performance

Psychemedics stock opened at $2.67 on Friday. 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 firm has a market capitalization of $15.73 million, a P/E ratio of -5.24 and a beta of 0.65. The firm has a fifty day moving average of $2.38 and a 200-day moving average of $2.31. Psychemedics Co. has a 52-week low of $1.63 and a 52-week 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.