Cosmos Health (NASDAQ:COSM) Trading Down 2.1% After Earnings Miss

Cosmos Health Inc. (NASDAQ:COSM) shares were down 2.1% on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $0.80 and last traded at $0.83. Approximately 172,720 shares were traded during trading, a decline of 89% from the average daily volume of 1,612,196 shares. The stock had previously closed at $0.85.

The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $14.75 million for the quarter, compared to analysts’ expectations of $17.48 million. Cosmos Health had a negative net margin of 27.90% and a negative return on equity of 17.95%.

Insiders Place Their Bets

In related news, CEO Grigorios Siokas bought 141,825 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $0.44 per share, for a total transaction of $62,403.00. Following the completion of the transaction, the chief executive officer owned 6,124,880 shares of the company’s stock, valued at approximately $2,694,947.20. This trade represents a 2.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.61% of the company’s stock.

Hedge Funds Weigh In On Cosmos Health

A hedge fund recently raised its stake in Cosmos Health stock. Geode Capital Management LLC grew its holdings in Cosmos Health Inc. (NASDAQ:COSM) by 29.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,432 shares of the company’s stock after acquiring an additional 43,704 shares during the period. Geode Capital Management LLC owned about 0.83% of Cosmos Health worth $129,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 12.61% of the company’s stock.

Cosmos Health Stock Down 2.1%

The company has a 50-day moving average price of $0.60 and a 200 day moving average price of $0.52. The firm has a market capitalization of $25.01 million, a PE ratio of -0.81 and a beta of 5.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.05 and a quick ratio of 0.87.

About Cosmos Health

Cosmos Health Inc manufactures, develops, and trades branded nutraceutical products in Greece, the United Kingdom, Croatia, Bulgaria, Cayman Islands, and Cyprus. It offers medicines, OTC medicines, nutraceutical products, vitamins, minerals and dietary, health care products, medical devices, baby products, and others under the Sky Premium Life and Mediterranation brand names.