Short Interest in Psychemedics Co. (NASDAQ:PMD) Decreases By 35.2%

Psychemedics Co. (NASDAQ:PMD) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 21,900 shares, a drop of 35.2% from the September 15th total of 33,800 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 34,200 shares, the short-interest ratio is presently 0.6 days.

Psychemedics Price Performance

Shares of NASDAQ PMD remained flat at $2.32 during midday trading on Friday. The stock had a trading volume of 2,938 shares, compared to its average volume of 17,166. The stock has a 50 day moving average price of $2.24 and a 200-day moving average price of $2.41. The stock has a market capitalization of $13.44 million, a price-to-earnings ratio of -3.01 and a beta of 0.66. Psychemedics has a 12-month low of $1.63 and a 12-month high of $3.93.

Psychemedics (NASDAQ:PMD) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $4.73 million for the quarter. Psychemedics had a negative net margin of 21.50% and a negative return on equity of 68.43%.

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.