Psychemedics Co. (NASDAQ:PMD) Short Interest Down 30.6% in August

Psychemedics Co. (NASDAQ:PMD) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 20,900 shares, a decrease of 30.6% from the August 15th total of 30,100 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 27,200 shares, the short-interest ratio is currently 0.8 days.

Psychemedics Stock Performance

PMD stock traded down $0.01 during trading on Monday, hitting $2.32. 11,770 shares of the stock traded hands, compared to its average volume of 16,457. Psychemedics has a 1 year low of $1.63 and a 1 year high of $4.04. The firm’s 50 day moving average is $2.22 and its two-hundred day moving average is $2.50.

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

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.