Mind Medicine Inc (NASDAQ:MNMD) shares, rose in value, without any change to the previous day’s close as strong demand from buyers drove the stock to $8.52.
Actively observing the price movement in the last trading, the stock closed the session at $8.52. Referring to stock’s 52-week performance, its high was $12.22, and the low was $2.41. On the whole, MNMD has fluctuated by -10.32% over the past month.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MNMD’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MNMD currently trading nearly -12.79% and 2.82% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.90, while the 7-day volatility ratio is showing 5.85% which for the 30-day chart, stands at 9.09%. Furthermore, Mind Medicine Inc (MNMD)’s beta value is -6.78, and its average true range (ATR) is 0.80.
A comparison of Mind Medicine Inc (MNMD) with its peers suggests the former has fared considerably weaker in the market. MNMD showed an intraday change of 0.00% in last session, and over the past year, it grew by 134.71%%.
Data on historical trading for Mind Medicine Inc (NASDAQ:MNMD) indicates that the trading volumes over the past 3 months, they’ve averaged 2.26 million. According to company’s latest data on outstanding shares, there are 41.10 million shares outstanding.
Nearly 4.34% of Mind Medicine Inc’s shares belong to company insiders and institutional investors own 60.96% of the company’s shares. The stock has risen by 132.79% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MNMD stock heading into the next quarter.
