PMI (NYSEAMERICAN:PMI) Shares Break Above 50-Day Moving Average – Time to Sell?

PMI (NYSEAMERICAN:PMI) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $7.25 and traded as high as $8.01. PMI shares last traded at $7.85, with a volume of 57,877 shares.

PMI News Roundup

Here are the key news stories impacting PMI this week:

• Positive Sentiment: Some economic indicators showed continued expansion: UK services and composite activity strengthened, while U.S. services activity remained above the 50-point growth threshold. These broad readings are not specific to PMI. UK Composite PMI Beats Prior Reading, Misses Forecast
• Neutral Sentiment: The Apogee Minerals rebrand concerns a separate Canadian company (TSE: APMI), and the training-partner announcement refers to the Project Management Institute; neither is news about PMI’s listed shares. Apogee Minerals Announces Northmark Rebrand and New Trading Symbol
• Negative Sentiment: Other economic surveys pointed to slowing activity, including weaker U.S. services growth and contraction in UK construction, Canada and Brazil. This may signal softer economic conditions, but the reports do not establish a direct impact on PMI. U.S. Services Growth Slows, Missing Forecasts Sharply

PMI Trading Up 9.2%

The company has a fifty day moving average price of $7.25 and a two-hundred day moving average price of $28.51.

PMI (NYSEAMERICAN:PMI) last posted its quarterly earnings results on Wednesday, August 19th. The company reported ($3.05) EPS for the quarter. PMI had a negative net margin of 444.83% and a negative return on equity of 825.18%. The company had revenue of $2.95 million during the quarter. Research analysts predict that PMI will post -8.50 earnings per share for the current year.

About PMI

Picard Medical Inc is a medical technology company which manufactures and sells the only total artificial heart. Picard Medical Inc is based in TUCSON, Ariz.