As of April 12, 2023, iMedia Brands‘ shares are experiencing a significant increase of over 13%. The reason for this sudden surge is not specified in the available article. Nonetheless, it is worth noting that iMedia Brands recently reported weaker-than-anticipated Q4 results, which caused the stock to plummet by 13.5% in pre-market trading. The current rise in stock price is therefore somewhat unexpected and unexplained.
iMedia Brands is an interactive media company that operates both domestically and internationally. The company is divided into three segments: Entertainment, Consumer Brands, and Media Commerce Services. Its television networks, such as ShopHQ, offer diverse products, including jewelry, watches, home goods, and consumer electronics. The company was previously known as EVINE Live Inc. and rebranded as iMedia Brands, Inc. in July.
It is worth noting that iMedia Brands’ stock has been quite volatile. For example, in March 2022, B. Riley cut the stock price target from $5 to $4. In February 2022, the stock was downgraded from buy to neutral at B. Riley. In January 2022, D.A. Davidson cut the stock price target from $22 to $11. However, in April 2022, Morgan Stanley raised the stock price target from $8 to $22.
BACK Stock Fluctuates Throughout the Day with High Trading Volume and Positive Revenue Growth
On April 12, 2023, BACK stock opened at 0.14 and experienced a wide range of fluctuations throughout the day, with a day’s range of 0.13 to 0.35. The volume of trades was high, with 92,474,934 shares being traded, significantly higher than the average volume of trades over the past three months. Despite the high trading volume, the market cap of BACK was relatively low at $4.1M due to a significant decline in earnings growth over the past year. However, the company rebounded in the current year with a growth rate of 69.23%. The revenue growth rate for BACK was positive at 12.51%, but the company had a negative net profit margin of -113.14% due to significant losses in the past year. The EPS forecast for the current quarter was -$0.05, indicating that the company was still struggling to turn a profit. BACK was part of the medical/nursing services industry and was headquartered in Franklin, Tennessee.
IMAC Holdings Inc (BACK) Stock: Analysts Predict +698.30% Increase in 12-Month Target Price
On April 12, 2023, IMAC Holdings Inc (BACK) stock closed for 0.19, significantly lower than the median target price of 1.50 predicted by the one analyst offering 12-month price forecasts for the company. This median estimate represents a +698.30% increase from the last price of 0.19. The consensus among one polled investment analyst is to buy stock in IMAC Holdings Inc, suggesting growth potential. IMAC Holdings Inc reported earnings per share of -$0.05 and sales of $2.7M in the current quarter, and is set to report its next earnings on May 18, 2023. Investors should conduct their research and analysis before making investment decisions, as investing in stocks always carries some risk.