Simulations Plus (NASDAQ:SLP) Hits New 52-Week Low – Should You Sell?

Shares of Simulations Plus, Inc. (NASDAQ:SLP) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $29.25 and last traded at $29.52, with a volume of 19129 shares traded. The stock had previously closed at $29.75.

Wall Street Analysts Forecast Growth

SLP has been the topic of several research reports. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research report on Thursday, October 24th. KeyCorp assumed coverage on Simulations Plus in a research note on Monday, July 29th. They issued an “overweight” rating and a $47.00 price target on the stock. BTIG Research reduced their price objective on Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, JMP Securities assumed coverage on Simulations Plus in a research report on Tuesday, July 16th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Simulations Plus Trading Down 5.1 %

The company has a market capitalization of $544.67 million, a price-to-earnings ratio of 55.55 and a beta of 0.69. The stock’s 50 day moving average price is $32.46 and its 200 day moving average price is $40.10.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.06 earnings per share 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 firm had revenue of $18.70 million for the quarter, compared to analyst estimates of $19.73 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. On average, research analysts expect that Simulations Plus, Inc. will post 1.11 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.26, for a total value of $625,200.00. Following the completion of the sale, the director now directly owns 3,481,592 shares in the company, valued at approximately $108,834,565.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 40,750 shares of company stock worth $1,352,455. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in Simulations Plus during the first quarter worth about $1,082,000. Silvercrest Asset Management Group LLC bought a new position in Simulations Plus in the 1st quarter valued at about $4,717,000. Deerfield Management Company L.P. Series C bought a new position in Simulations Plus in the second quarter valued at approximately $811,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Simulations Plus in the 1st quarter valued at $70,000. Finally, Principal Financial Group Inc. boosted its stake in Simulations Plus by 1.4% in the first quarter. Principal Financial Group Inc. now owns 88,142 shares of the technology company’s stock valued at $3,627,000 after buying an additional 1,203 shares in the last quarter. 78.08% of the stock is currently owned by institutional investors and hedge funds.

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.