IMAC (NASDAQ:IMAC) Shares Down 4.3%

IMAC Holdings, Inc. (NASDAQ:IMAC – Get Rating)’s share price dropped 4.3% during mid-day trading on Friday . The company traded as low as $0.14 and last traded at $0.14. Approximately 258,689 shares changed hands during trading, a decline of 63% from the average daily volume of 708,132 shares. The stock had previously closed at $0.15.

IMAC Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.27 and a current ratio of 1.27. The business’s 50 day simple moving average is $0.15 and its 200-day simple moving average is $0.24.

Institutional Investors Weigh In On IMAC

Large investors have recently bought and sold shares of the company. Kestra Advisory Services LLC grew its stake in IMAC by 70.5% during the third quarter. Kestra Advisory Services LLC now owns 1,691,504 shares of the company’s stock worth $641,000 after buying an additional 699,413 shares in the last quarter. State Street Corp acquired a new stake in IMAC during the second quarter worth about $33,000. Finally, Virtu Financial LLC acquired a new stake in IMAC during the second quarter worth about $55,000. 24.27% of the stock is currently owned by institutional investors and hedge funds.

About IMAC

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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.