IMAC (NASDAQ:IMAC) Price Target Cut to $5.50

IMAC (NASDAQ:IMAC – Get Rating) had its target price reduced by Ascendiant Capital Markets to $5.50 in a research report report published on Monday, Stock Target Advisor reports. Ascendiant Capital Markets currently has a na rating on the stock.

NASDAQ:IMAC opened at $0.81 on Monday. IMAC has a 52 week low of $0.75 and a 52 week high of $2.75. The stock’s fifty day moving average is $0.91 and its two-hundred day moving average is $1.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.27 and a current ratio of 1.27.

IMAC (NASDAQ:IMAC – Get Rating) last announced its earnings results on Friday, May 13th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). IMAC had a negative net margin of 75.40% and a negative return on equity of 52.17%. Equities research analysts predict that IMAC will post -0.62 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in shares of IMAC during the second quarter worth approximately $149,000. Commonwealth Equity Services LLC purchased a new position in IMAC in the third quarter worth approximately $118,000. Shepherd Kaplan Krochuk LLC grew its holdings in IMAC by 24.3% during the 4th quarter. Shepherd Kaplan Krochuk LLC now owns 84,550 shares of the company’s stock worth $96,000 after acquiring an additional 16,550 shares in the last quarter. Resources Investment Advisors LLC. increased its position in shares of IMAC by 130.7% in the 1st quarter. Resources Investment Advisors LLC. now owns 87,111 shares of the company’s stock valued at $90,000 after purchasing an additional 49,354 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of IMAC by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 195,643 shares of the company’s stock valued at $289,000 after purchasing an additional 24,559 shares in the last quarter. Hedge funds and other institutional investors own 24.27% of the company’s stock.

About IMAC (Get Rating)

IMAC Holdings, Inc owns, manages, and subleases a chain of innovative medical advancements and care regeneration centers in the United States. The company's outpatient medical clinics provide regenerative, orthopedic, and minimally invasive procedures and therapies to patients with sports injuries, ligament and tendon damage, and other related soft tissue conditions, as well as back, knee, and joint pains.

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