Psychemedics Co. (NASDAQ:PMD) Sees Large Decrease in Short Interest

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

Psychemedics Price Performance

Shares of PMD traded down $0.01 on Monday, hitting $2.32. The company’s stock had a trading volume of 11,770 shares, compared to its average volume of 16,457. The firm’s fifty day moving average price is $2.22 and its 200-day moving average price is $2.50. Psychemedics has a fifty-two week low of $1.63 and a fifty-two week high of $4.04.

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

About Psychemedics

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.