Powell Anderson Capital Partne Acquires 60,000 Shares of Psychemedics Co. (NASDAQ:PMD) Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne purchased 60,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $1.97 per share, with a total value of $118,200.00. Following the completion of the transaction, the insider now directly owns 604,556 shares of the company’s stock, valued at $1,190,975.32. The trade was a 11.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Anderson Capital Partne also recently made the following trade(s):

• On Thursday, December 12th, Powell Anderson Capital Partne bought 75,000 shares of Psychemedics stock. The shares were acquired at an average price of $2.67 per share, for a total transaction of $200,250.00.
• On Tuesday, December 10th, Powell Anderson Capital Partne acquired 7,473 shares of Psychemedics stock. The shares were bought at an average price of $2.59 per share, with a total value of $19,355.07.

Psychemedics Trading Down 1.8 %

Shares of PMD stock opened at $2.67 on Thursday. Psychemedics Co. has a 12-month low of $1.63 and a 12-month high of $3.93. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $2.40 and a 200-day moving average of $2.32. The firm has a market cap of $15.73 million, a P/E ratio of -5.24 and a beta of 0.65.

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.