Short Interest in LogicMark, Inc. (NASDAQ:LGMK) Grows By 771.5%

LogicMark, Inc. (NASDAQ:LGMK) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 3,810,000 shares, a growth of 771.5% from the October 15th total of 437,200 shares. Based on an average daily volume of 17,750,000 shares, the days-to-cover ratio is currently 0.2 days.

LogicMark Stock Up 34.2 %

LGMK stock traded up $0.05 during trading on Tuesday, hitting $0.18. The company had a trading volume of 547,735,494 shares, compared to its average volume of 7,865,600. The firm has a market cap of $1.08 million, a PE ratio of -0.01 and a beta of 1.25. LogicMark has a 1-year low of $0.08 and a 1-year high of $2.20. The firm has a 50-day moving average price of $0.13 and a 200-day moving average price of $0.42.

LogicMark (NASDAQ:LGMK) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.11. The business had revenue of $2.34 million for the quarter, compared to analyst estimates of $2.37 million. LogicMark had a negative return on equity of 104.48% and a negative net margin of 146.14%. Sell-side analysts anticipate that LogicMark will post -2.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Winvest Investment Fund Manage purchased 336,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $0.10 per share, with a total value of $33,610.00. Following the completion of the acquisition, the insider now owns 945,700 shares in the company, valued at $94,570. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 3.47% of the stock is currently owned by company insiders.

LogicMark Company Profile

LogicMark, Inc provides personal emergency response systems (PERS), health communications devices, and Internet of Things (IoT) technology that creates a connected care platform in the United States. The company’s devices provide people with the ability to receive care at home and age independently and to check, manage, and monitor a loved one’s health and safety remotely.