Spruce Biosciences Inc (NASDAQ:SPRB) traded at $0.76 at close of the session on Monday, March 18, made a downward move of -6.06% on its previous day’s price.
Looking at the stock we see that its previous close was $0.81 and the beta (5Y monthly) reads 2.69 . In terms of its 52-week price range, SPRB has a high of $5.95 and a low of $0.78. The company’s stock has lost about -85.00% over that past 30 days.
Spruce Biosciences Inc has a market cap of $30.90 million and is expected to release its quarterly earnings report on May 13, 2024 – May 17, 2024. Estimates by analysts give the company expected earnings per share (EPS) of -$0.29, with the EPS growth for the year raised at -$1.12 for 2024 and -$1.01 for next year. These figures represent 9.70% and 9.80% growth in EPS for the two years respectively.
The median projection represents growth squeezing down to 132.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $4.61 million, or -54.30% down from figures reported last year.
There have been 4 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SPRB stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 50% Sell.
Looking further, we note the current price level is -84.07% off its SMA20 and -80.48% from its 50-day simple moving average. The RSI (14) is pointing at 21.50 while the volatility over the past week is 22.30% and jumps to 12.89% over the past one month. The beta value is 2.75, while the average true range (ATR) is currently pointing at 0.66.
Coming back to Spruce Biosciences Inc (NASDAQ:SPRB), we note that the average 3-month trading volume was 955.72K, while that of the preceding 10-day period stands at 4.37 million. Current shares outstanding are 41.03 million.
The insiders hold 52.16% of the company’s shares while institutions hold 37.10%. The data shows that short shares as of Feb 29, 2024, stood at 33680.0 at a short ratio of 0.07. This represents a 0.08% short interest in shares outstanding on Feb 29, 2024. Shares short fall in February from the previous month at 42910.0. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -74.10% down in year-to-date price movement.
