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Mira Pharmaceuticals Inc: Making Heads Or Tails Of MIRA Stock

Mira Pharmaceuticals Inc (NASDAQ:MIRA) price closed higher on Monday, November 20, jumping 40.06% above its previous close.

A look at the daily price movement shows that the last close reads $3.32, with intraday deals fluctuated between $3.7013 and $6.40. Taking into account the 52-week price action we note that the stock hit a 52-week high of $7.98 and 52-week low of $1.33. The stock added 49.04% on its value in the past month.

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Mira Pharmaceuticals Inc, which has a market valuation of $68.73 million. Analysts tracking MIRA have forecast the quarterly EPS to shrink by -0.26 per share this quarter, while the same analysts predict the annual EPS to hit -$0.34 for the year 2023 and up to -$0.52 for 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews.

The overview shows that MIRA’s price is at present 126.97% off the SMA20 and 41.11% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 73.98, with weekly volatility standing at 45.51%. The indicator jumps to 21.91% when calculated based on the past 30 days. Mira Pharmaceuticals Inc (NASDAQ:MIRA)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.66. Considering analysts have assigned the stock a price target range of $16.50-$16.50 as the low and high respectively, we find the trailing 12-month average consensus price target to be $16.50. Based on this estimate, we see that current price is roughly -254.84% off the estimated low and -254.84% off the forecast high. Investors will no doubt be excited to see the share price fall to $16.50, which is the median consensus price, and at that level MIRA would be -254.84% from current price.

An analysis of the Mira Pharmaceuticals Inc (NASDAQ:MIRA) stock in terms of its daily trading volume indicates that the 3-month average is 98.69K. However, this figure increases on the past 10-day timeline to an average of 0.19 million.

Current records show that the company has 14.75M in outstanding shares. The insiders’ percentage holdings are 65.44% of outstanding shares while the percentage share held by institutions stands at 0.01%. The stats also highlight that short interest as of Oct 30, 2023, stood at 4250.0 shares, which puts the short ratio at the time at 0.26. From this we can glean that short interest is 0.03% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 7580.0. But the -37.33% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.