Zomedica (NYSEAMERICAN:ZOM) Stock Price Up 4.3%

Posted by on Apr 12th, 2023

Zomedica Corp. (NYSEAMERICAN:ZOM – Get Rating) traded up 4.3% during trading on Tuesday . The stock traded as high as $0.21 and last traded at $0.21. 3,041,084 shares were traded during mid-day trading, a decline of 65% from the average session volume of 8,730,205 shares. The stock had previously closed at $0.21.

Analyst Ratings Changes

Separately, Dawson James began coverage on shares of Zomedica in a report on Friday, January 6th. They issued a “buy” rating and a $6.00 target price on the stock.

Zomedica Stock Performance

The company has a market cap of $209.71 million, a PE ratio of -7.13 and a beta of 0.96.

Zomedica (NYSEAMERICAN:ZOM – Get Rating) last announced its quarterly earnings results on Wednesday, March 15th. The company reported ($0.01) earnings per share for the quarter. Zomedica had a negative return on equity of 6.35% and a negative net margin of 90.74%. The business had revenue of $6.16 million during the quarter, compared to analysts’ expectations of $6.20 million. As a group, analysts anticipate that Zomedica Corp. will post -0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Zomedica by 5.1% during the third quarter. Vanguard Group Inc. now owns 46,329,005 shares of the company’s stock worth $9,775,000 after acquiring an additional 2,252,651 shares during the last quarter. BlackRock Inc. increased its stake in Zomedica by 5.6% in the 1st quarter. BlackRock Inc. now owns 13,418,299 shares of the company’s stock valued at $4,523,000 after buying an additional 707,993 shares during the period. Renaissance Technologies LLC acquired a new stake in Zomedica in the second quarter valued at $552,000. Swiss National Bank lifted its holdings in shares of Zomedica by 7.6% in the first quarter. Swiss National Bank now owns 2,201,200 shares of the company’s stock valued at $742,000 after purchasing an additional 156,100 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Zomedica by 413.9% during the second quarter. Jane Street Group LLC now owns 1,082,261 shares of the company’s stock valued at $238,000 after buying an additional 871,646 shares during the period. Hedge funds and other institutional investors own 9.42% of the company’s stock.

About Zomedica

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Zomedica Corp., a veterinary health company, focuses on the unmet needs of clinical veterinarians by developing products for companion animals. The company engages in the development and commercialization of TRUFORMA platform, which offers point-of-care diagnostic products for disease states in dogs and cats; and PulseVet, provides for treatment of various musculoskeletal issues, such as broken bones, tendonitis, and torn ligaments in horses and small animals.

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